The rise in US yields has helped to pull AUDUSD down to 0.9237 and push USDJPY up to 103.85. However, EURUSD has risen to 1.3803 ahead of today’s ECB meeting. Among EM Asia currencies, the TWD, INR and KRW have outperformed, rising 0.4%, 0.3% and 0.2% respectively against the dollar. In contrast the MYR weakened 0.2% to 3.266. USDCNY fixed 10pips lower to 6.1493, a second consecutive fall in the fix.
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Credit Suisse