EURUSD and EUR crosses came under moderate pressures. EURUSD traded just below 1.36; EURGBP, EURSEK and EURNOK were also slightly lower. USDJPY edged lower to 102.6 after failing to break yesterday’s high. The US 10y yield fell slightly in Asia trading to 2.589%, adding to pressure on USDJPY. Elsewhere, AUD and NZD gained, the former to 0.928 and the latter to 0.843.Asian FX largely recovered from yesterday’s drop, led by a 0.3% rally in KRW, and a 0.2% gain in MYR and IDR. USDPHP also fell to 43.82 as stronger-than-expected inflation increased expectation for the central bank to turn more hawkish. The PBoC fixed USDCNY 15pips higher to 6.1708, but onshore spot continued to be capped below 6.26.
Read the full report: Market Research
Credit Suisse