The USD has softened against the major currencies. AUDUSD has risen slightly to 0.8895 from its overnight low following the better-than-expected China flash PMI while EURUSD has recovered to 1.2854 and USDJPY has fallen to 108.73. GBPUSD has rallied to 1.6384 thanks to EURGBP pushing slightly lower to 0.7845.
EM Asia currencies opened weaker, following the tone of weaker Latin American currencies overnight. USDKRW rose to a high of 1044.97 before dipping to 1042.25 where it found support. USDMYR is marginally higher at 3.2485, USDIDR is up at 11,990, but met official offers. The SGD has outperformed, rallying to 1.2675 to the dollar thanks in part to a further rise in the SGD NEER. The PBoC fixed USDCNY 15 pips lower at 6.1470.
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