AUDUSD has underperformed, dropping to 0.8234 in the wake of a weak NAB business survey and a new forecast by a major Australian bank for the RBA to cut its policy rate several times in 2015. USDJPY has fallen to 120.31 while EURUSD has softened from its high of 1.2344 to 1.2293. USDCNY and USDCNH have risen sharply to 6.2018 and 6.1983 respectively despite the authorities lowering the fix 51 pips to 6.1231. Price action in other EM Asia FX is subdued.
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