Within the G10, AUDUSD has outperformed, opening weak, but rallying after the China PMI to 0.9266. USDJPY has pushed up to 101.65 and EURUSD is marginally lower at 1.3674. Most EM Asia currencies have gained against the dollar, with the exception of the IDR. The KRW has risen to 1024.8 to the dollar, the MYR has gained almost 0.4%, to 3.2043, and the INR has opened stronger at 58.505. USDCNY fixed 13 pips higher, to 6.1658, but the onshore spot is flat and USDCNH is 33 pips lower.
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Credit Suisse