Asia Plays Catch-Up With FOMC Minutes

G10 FX were happy to stick to tight ranges overnight, searching for fresh catalysts. USD marginally underperforms most of its peers from the basket at typing, albeit DXY meandered close to Wednesday's best levels overnight. A brief round of AUD/USD sales pushed DXY above yesterday's highs, but the index backed off thereafter.

• For the most part, Asian EM FX lagged the greenback as the region had to catch up with yesterday's USD appreciation inspired by minutes from the FOMC's most recent MonPol meeting. KRW led losses in the basket, with THB also fragile amid continued social unrest in Thailand.
• Indonesia started its long weekend and Malaysia observed a single-day public holiday.
• NZD was uninspired by the latest speech from RBNZ Asst Gov Hawkesby, who largely stuck to familiar messaging of New Zealand's central bank, noting that policymakers are preparing to use policy tools including negative interest rates if needed.
• Focus turns to U.S. initial jobless claims & Philly Fed Survey, Swedish unemployment, ECB Jul MonPol meeting minutes, MonPol decisions from the Norges Bank, BSP & CBRT, as well as comments from Fed's Daly, BoC's Beaudry and Riksbank's Skingsley.