Lower US yields led the USD to weaken even as equity markets continued to fall. EURUSD rallied back up to 1.2694 while USDJPY dropped to 107.11, its lowest level since early September. The yen move pushed EURJPY up to 135.98. AUDUSD bounced up to 0.8742. In EM Asia FX, USDKRW dropped to 1066.15, USDMYR fell to 3.2572, USDIDR dipped to 12,190 and USDSGD fell to 1.2711 and the SGD NEER is slightly stronger ahead of tomorrow’s policy meeting.
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