G10 FX has traded sideways with EURUSD at 1.3712, AUDUSD at 0.9237, and USDJPY at 103.91. Most EM Asia currencies have weakened against the dollar with the exception of the KRW, although moves have been small. The THB and the PHP have underperformed, falling about 0.2% against the dollar while USDKRW has drifted down to 1056.4. China fixed USDCNY 37bps higher to 6.1557, leading USDCNH to trade to a new high for the year of 6.2175 even as the onshore spot was better behaved.
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Credit Suisse