After weakening overnight, the USD has regained ground against the AUD and traded flat against the EUR. AUDUSD is at 0.9216 while EURUSD is at 1.3062 and USDJPY is trading around 99.60. Most emerging Asia currencies are slightly weaker against the USD today, led by the PHP where the market seems to think the central bank intervened to weaken the currency. The INR has rallied slightly in anticipation of flows associated with a large share buyback by the foreign parent company of its subsidiary listed in India.
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Credit Suisse