EURUSD largely held onto its overnight rally, trading at 1.2932. However, AUDUSD fell to 0.9172 while USDJPY rose slightly to 106.30. AUDNZD dropped to 1.1116 while cable crept up to 1.6120. Most EM Asia currencies extended weakness. The INR underperformed, weakening 0.3% against the USD to 60.810 and the MYR fell 0.2% to 3.198. The implied USDKRW rate opened to a high of 1034.93 but has recovered to 1033.18. The TWD erased early losses to trade at 29.956 while USDCNY fixed 95pips lower to 6.1425. The latter pushed USDCNH to 6.1331.
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