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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

FOREX
FOREX: Asia-Pac equity mkts took their cue from Wall St. & plunged in early
trade, with circuit breakers triggered repeatedly. That said, a dynamic recovery
in S&P/ASX 200 spilled over and brought risk some relief. Hard to point to any
particular driver behind this recovery, with some passing around a report re:
work into a cure for coronavirus (not very convincing). Antipodean FX had been
already well bid, with talk of a liquidity squeeze pushing AUD & NZD higher. JPY
lagged its G10 peers, with USD/JPY having a look above Y106.00. Sterling was
also offered and heads towards the London session as the second-worst performer.
- USD/CNH climbed early on, but flipped to the red as China's NDRC pledged
measures to boost consumption. The rate then extended losses past CNH7.0.
Broader USD/Asia unwound some earlier gains in tandem, following earlier surges.
IDR was the worst currency in the region, hitting a 16-month high vs. USD.
USD/KRW surged to best levels since Mar 2016, with South Korean authorities
reportedly selling the greenback after an unnamed MoF off'l revealed potential
for stepping in. USD/INR showed at a record high before pulling back.
- U.S. U. of Mich. Survey, German CPI (f) & Swedish unemployment are due today.