With the exception of the EUR, the USD has appreciated across the board. AUDUSD has fallen to 0.8454 and USDJPY has risen to 118,88, and EURUSD fell to 1.2427 in early trading, but has recovered to 1.2454. The CHF is little changed following the defeat of the gold and immigration referenda over the weekend. In EM Asia, the MYR has underperformed, dropping 1.6% to 3.4373 to the dollar. USDKRW has risen 0.7% to 1115.98 and USDIDR is up 0.6% to 12,274. The CNY and CNH have outperformed, trading essentially flat despite a 24 pip rise in the fix to 6.1369.
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