The dollar has given up some of its initial gains against the AUD and EUR and recovered slightly against the JPY in the wake of the MH17 airline tragedy. EURUSD is at 1.3527, AUDUSD is trading 0.9362, and USDJPY is at 101.33.Most EM Asia currencies opened higher, with USDMYR gapping up to a high of 3.1955 before recovering to 3.1883, partly in response to institutional flows into Malaysian government bonds. USDINR has jumped to 60.3975, but USDIDR has steadied at 11,688 after an initial move up. USDKRW is trading 1032.10. USDCNY rose 4pips to 6.1568.
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