USDJPY fell to a low of 101.66 on the day, but has since stabilized at 101.84. EUR has climbed higher, to 1.372. AUDNZD inched lower, to 1.081, as AUD fell slightly, but NZD was stable around 0.8663. MYR and PHP led declines in Asian FX, partially reversing yesterday’s gains to 3.225 and 43.63, respectively. USDKRW managed to edge slightly lower, to 1026.5, but continued to face official resistance. USDINR gapped down to 59.5 on the open after yesterday’s holiday. The PBoC fixed USDCNY 13 pips lower, to 6.1640. Both CNY and CNH appeared stable near yesterday’s close.
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Credit Suisse