Asia-Pac currencies are............>

EMERGING MARKETS: Asia-Pac currencies are generally lower, with TWD and THB

underperforming into the close while MYR and PHP have proved slightly more

resilient.

- It's been a somewhat quieter session for CNY markets across both futures and

options, with the rangebound USD/CNY rate keeping a lid on activity. 6.9049

remains near-term support, while the 100-dma at 6.9915 is first resistance.

- INR is the big outperformer Wednesday, but the strength looks fragile here as

markets catch up after Tuesday's Indian market holiday. This keeps Tuesday's

multi-year high of 74.1825 well within range.

- USD/IDR closed stubbornly close to the cycle high of 14,412 despite renewed

government tax break support. This also followed the central bank intervening

further in the domestic bond market in an attempt to boost confidence.

- KRW remains well within the recent range, with crowded support layered in

USD/KRW between 1181.94 - 1183.57. The size of a potential stimulus package

remains the focus, with reports overnight suggesting the government are

accounting for extra budget and support projects.