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ASIA FX: Currencies Mixed Following Strong Week.

ASIA FX
GlobalEM BulletBulletAPACEmerging Market NewsRegion
  • Asia currencies took were mixed today following a strong week on the back of the FED cut and China stimulus news.
  • The CNY Reference Rate at 7.0354 Per USD; Estimate 7.0344, reference rate was fixed 0.22% higher than the previous trading day.
  • USD/CNH rallied 0.2% on the news of potential capital injection by the PBOC into the major banks to support their lending objectives.
  • IDR was the biggest underperformer, 0.5% higher in Asian trading hours.
  • SGD and THB were the stronger currencies in Asia, both up 0.20%. The THB reacted to ongoing calls by the government for the Central Bank to cut rates.
  • Malaysia’s Central Bank the BNM issued a statement in which it predicted ‘enduring support for the Ringgit’ which is one of Asia’s best performers for the year.  Despite this the MYR was little changed on the day. 
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  • Asia currencies took were mixed today following a strong week on the back of the FED cut and China stimulus news.
  • The CNY Reference Rate at 7.0354 Per USD; Estimate 7.0344, reference rate was fixed 0.22% higher than the previous trading day.
  • USD/CNH rallied 0.2% on the news of potential capital injection by the PBOC into the major banks to support their lending objectives.
  • IDR was the biggest underperformer, 0.5% higher in Asian trading hours.
  • SGD and THB were the stronger currencies in Asia, both up 0.20%. The THB reacted to ongoing calls by the government for the Central Bank to cut rates.
  • Malaysia’s Central Bank the BNM issued a statement in which it predicted ‘enduring support for the Ringgit’ which is one of Asia’s best performers for the year.  Despite this the MYR was little changed on the day.