FX has been largely rangebound in Asia. EURUSD, USDJPY, and AUDUSDare at 1.3614, 104.32, and 0.8814, all barely changed from their end-US tradinglevels. Although most EM Asia currencies have strengthened against the dollar,the moves have been small with the 0.2% appreciation of the KRW and INR to1060.75 (with BoK intervention) and 61.4250 representing outperformance.
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Credit Suisse