The USD is stronger across the board in Asia. AUDUSD has fallen to 0.9294, partly in response to RBA Governor Stevens’ assertions to the Australian parliament that it is irrationally overvalued. EURUSD has dipped to 1.3308 and USDJPY has risen to 103.04. All EM Asia currencies have weakened against the dollar led by a 0.5% rise in USDKRW to 1022.25. USDCNY fixed 32pips higher to 6.1580, close to the middle of its range since early June.
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