USDJPY has continued to edged higher to 101.57 after failing to break meaningfully below 101.20 overnight. The AUD remained under pressure, dipping below 0.93, despite S&P clarifying that there is no immediate risk to Australia’s AAA rating. The EUR saw little interest, holding flat at 1.3711.USDTHB spiked 0.5% initially to 32.65 but has subsequently retraced all the way back to 32.49. The BoT seems to have been intervening, selling USD in the market. Elsewhere, PHP and IDR have weakened, albeit only by 0.2%. USDINR edged marginally lower on the open to 58.55. The PBoC lowered USDCNY fix slightly to 6.1626, driving both USDCNY spot and USDCNH lower.
Read the full report: Market Research
Credit Suisse