The USD continued to weaken, albeit only modestly. The EUR ground higher to 1.271, USDJPY stabilized just below 108, while the AUD traded above 0.88. The NOK rallied 0.3%, driving EURNOK lower to 8.372. In EM Asia, the KRW strengthened for a second day to 1050. In contrast, USDIDR gapped higher to 12165 on the open as Indonesia’s Finance Minister Brodjonegoro said the fuel hike was not discussed in the 1st Cabinet meeting. USDINR also rose 0.2% to 61.40. The PBoC fixed USDCNY 25pips lower to 6.1421, encouraging USDCNH to fall to 6.1179.
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