The EUR stayed near its 11-year low at 1.106 ahead of the ECB meeting. USDJPY inched higher to 119.87, while AUD is largely rangebound around 0.782. NZD underperformed, down 0.4% to 0.755 after reports that RBNZ is consulting on tighter rules for property investors. AUDNZD popped higher to 1.035 as a result. In EM, IDR and MYR led the drop in Asian FX, both fell 0.3% to 13034 and 3.658 respectively. The PBoC kept USDCNY fix largely unchanged at 6.1528 on the opening of the China’s National Congress, lower than most model predictions.
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