The Global Macro Pulse

EURCHF jumped towards 1.05 on news report that SNB may operate an unofficial corridor versus EUR. EUR itself was largely steady around 1.131, AUD around 0.778, while USDJPY rebounded from a two-week low of 116.66 to 117.68. The PBoC fixed USDCNY 15pips higher to 6.1385, and we believed they sold USD to push USDCNY spot lower within its bands. USDCNH also came down to 6.274 but continued to trade at a premium to USDCNY spot. Elsewhere, KRW and TWD lost 0.6%, but THB strengthened 0.6% to 32.57.

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