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Asia-Pac FX spirals as regional....>

EMERGING MARKETS
EMERGING MARKETS: Asia-Pac FX spirals as regional tensions, US-China spat
escalates
-Currencies exposed to global trade took a decent knock Friday, as Trump's
tariff escalation against China took the shine out of CNY, which appeared to
take markets offside as USD/CNY was bid up to 6.95. Today's rally will likely
prompt further speculation over whether the pair will cross over 7.00 in the
near future, a notion that had been continually factored out of market prices in
recent months.
-KRW fell alongside CNY, falling alongside domestic equities as traders eyed the
heightened tensions with Japan. South Korea issued a formal warning against
Japan overnight after Tokyo removed the country from a 'white list' of trusted
export destinations. USD/KRW closed at multi-year highs of 1,197, the highest
level since early 2017.
-The US jobs report will take focus this afternoon, with minutes also due from
both the Chilean and Colombian central banks.

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