Activity Subdued With U.S. Off For Thanksgiving

The yen narrowly outperformed its G10 peers, with activity thinned by the Thanksgiving holiday in the U.S. Lack of any notable regional headline and data flow kept major crosses rangebound. A light sense of caution helped JPY & CHF remain afloat through the Asia-Pac session, with the Antipodeans facing a modicum of selling pressure. The greenback traded mixed, with the DXY wavering around Wednesday lows.

• The BoK left its main policy rate unchanged, as expected by all analysts surveyed by BBG. KRW shrugged off the decision, but pulled back from session highs as BoK Gov Lee expressed a sense of worry with rapid currency appreciation, driven by herd-like behaviour. Lee noted that the BoK will step in to stabilise FX markets if needed, citing negative impact of FX volatility for domestic exporters and general uncertainty.
• Focus turns to minutes from the ECB's Oct MonPol meeting, Riksbank's MonPol decision, Swedish Econ Tendency Survey, French consumer confidence and comments from ECB's Lane & Schnabel, Riksbank's Breman and BoC's Macklem & Wilkins.