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Asia FX squeezed as pre-weekend....>

EMERGING MARKETS
EMERGING MARKETS: Asia FX squeezed as pre-weekend price action turns risk-off
- The themes remained the same in the Asia-Pac session, but markets paid
particular attention to reports of a further 41 cases of novel coronavirus
aboard a quarantined ship in Yokohama, Japan. The moves picked up in the
European morning, squeezing the likes of SGD, THB and IDR into their respective
closes, with markets clearly selected to eschew risk ahead of the weekend.
- USD/SGD extended its recent firm outperformance on the move, rallying to touch
fresh multi-month highs and nearing September's 1.3942.
- The Russian rate decision is due at 1030GMT, with markets split on whether the
CBR will cut rates by 25bps to 6.0%. The bank's governor holds a press
conference at 1200GMT and the RUB is trading poorly ahead of the release.

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