NZDUSD fell to 0.8195 as the RBNZ kept its policy rate unchanged as expected, but lowered guidance. AUDUSD rallied to 0.9218 before easing to 0.9189 after a historically large rise in employment in August. The market appears sceptical of the 121k rise in employment in August despite ABS assertions of enhanced due diligence about its accuracy. EURUSD edged higher to 1.2914 from its New York lows while USDJPY is essentially flat at 106.76.USDKRW opened lower to 1031.95, then rose to 1034.07, only marginally below yesterday’s rate. Most other EM Asia currencies are a bit stronger against the dollar led by a 0.4% rise in the PHP ahead of today’s central bank policy meeting. The IDR was an exception, creeping up to 11,835. The USDCNY fix rose 28bps to 6.1453, but USDCNH rose only marginally to 6.1354.
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