USD-G10 has traded only very marginally higher in Asia following its post-FOMC rally in US time. EURUSD is at 1.2619, AUDUSD is at 0.8787, and USDJPY is at 109.01. USDNZD fell to 0.78, pushing AUDNZD up to 1.1248 following a more dovish than expected policy statement from the Reserve Bank of New Zealand. All Asian currencies have weakened against the USD, led by a 0.6% fall in the KRW to 1053.6 and 0.5% falls in the SGD and MYR to 1.2783 and 3.2885, respectively. The INR has outperformed, retracing most of its early losses to trade at 61.4088. USDCNY fixed 52bps higher to 6.1457.
Read the full report: Market Research