The dollar is little changed against the major currencies. EURUSD has traded sideways at 1.374, USDJPY has bounced off of its overnight low of 102.05 to 102.32, and AUDUSD has dipped to 0.9006 in response weaker-than-expected Q4 construction data and concerns about China. However, most EM Asia have risen against the dollar. The KRW is 0.6% stronger at 1066.6. USDCNY fixed 8pips higher to 6.1192, pushing USDCNY spot to 6.1295 and USDCNH to 6.125.
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Credit Suisse