USDJPY rose to an intra-morning high of 100.52 before paring back to 100.37. AUDUSD dipped to 0.9308, continuing weakness in New York, driven by the weaker-than-expected HSBC flash PMI for China. In contrast, EURUSD is essentially flat to its overnight lows at 1.3423. All EM Asia currencies are weaker against the dollar today. USDKRW is up at 1062.56, USDMYR gapped up at the open and is now 3.2023, USDTWD has risen to 29.572, and USDSGD is at 1.2487. USDCNY fixed 61pips higher, to 6.13660, a move that did not prevent our CNY trade-weighted index from rising to close to its highest level in a week.
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Credit Suisse