USDJPY extended its move lower to 117.50 on the back of Aso’s comments. The USD lost further ground as EUR headed towards 1.257, and AUD rebounded to 0.864. EM Asian currencies appreciated, led by MYR and KRW; the former up 0.3% to 3.356 and the latter up 0.2% to 1112.8. Asian high yielders have also done well with USDINR lower to 61.84, and USDIDR to 12162. The PBoC guided the USDCNY fix 30pips lower to 6.1387. USDCNH stabilized at 6.1242, at par to CNY spot, after an earlier fall to 6.1214.
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