The USD continued to strengthen, even as EURUSD held flat at 1.293 after the steep decline overnight. AUD moderated to 0.934 and NZD continued its downtrend to 0.828. USDJPY traded to a high of 105.71 on the day before paring gains to 105.35. Most EM Asia FX weakened, led by a 0.6% fall in KRW, to 1025. USDMYR gapped higher to 3.197 on the open, before easing to 3.187. INR also fell 0.1%, to 60.42. The PBoC raised the USDCNY fix 41pips, to 6.1707, lower than the model-implied forecast based on DXY strength. This helped USDCNH marginally lower on the day, to 6.145.
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