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As anticipated in the press earlier, U.S......>

FOREX
FOREX: As anticipated in the press earlier, U.S. Tsy removed China's "currency
manipulator" status in its latest semi-annual FX report (Switzerland was added
to the watchlist). In combination the imminent signing of the much awaited
phase-one trade deal, the move vs. China lent some support to risk appetite,
albeit this has moderated since. USD/CNH & USD/CNY sank to fresh multi-month
lows, but shrugged off stronger than exp. Chinese trade figures.
- Price action across the G10 FX space was fairly lacklustre. USD/JPY punched
above the psychological Y110.00 level, with further demand emerging into the
Tokyo fix. That psychological barrier had been intact since May.
- In Asian EMFX, USD/TWD & USD/IDR extended losses and still operate at levels
not seen since 2018. USD/PHP plumbed a multi-year low too, as it reopened after
a mkt closure linked to a volcanic eruption. The BoT expressed concern w/THB
strength & said it is ready to rein it in. USD/KRW dropped to its worst levels
since July, before paring the bulk of initial losses.
- U.S. CPI headlines the data docket, central bank speaker list features Fed's
George & Williams, as well as ECB's Mersch, Villeroy & de Cos.

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