The overnight dollar fall was sustained in Asia. AUDUSD is steady at 0.9403, EURUSD is 1.3590, and USDJPY is 101.92. Emerging Asia currencies have rallied, led by a 0.9% drop in USDINR to 59.8875 and a 0.6% fall in USDINR to 11,925. USDKRW gapped lower to 1017.26 before consolidating at 1018.70. The USDCNY fix fell 28pips to 6.1531, less than our model predicted.
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