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ASIAN MARKETS: Asia-Pac FX implied vols are..........>

ASIAN MARKETS, AUSSIE-YEN
ASIAN MARKETS: Asia-Pac FX implied vols are generally higher, mirroring the
moves in G10FX as markets look ahead to various central bank rate decisions
(Fed, Taiwan, Philippines, Indonesia) this week. Most notable gains seen in
AUD/USD and USD/JPY curves, with central banks remaining the key influence at
present. Despite the (somewhat) larger intraday moves in vol, most measures hold
within their recent range, with USD/JPY 1m holding above 6 points.
-Taiwan CBC (Thurs). Benchmark rate exp unch at 1.375%. Rates seen unchanged,
with CB focused on FX intervention. Rate cuts could come in H2 if trade
uncertainty persists.
-Philippines BSP (Thurs). O/N rate 25bps cut expected to 4.25%. Easing cycle
fully underway. Close call this week after cutting rates last month, but will
remain data dependent.
-Bank Indonesia (Thurs). 7-day reverse repo rate exp unch at 6.0%. CB chief
stated he sees room for a rate cut, but other liquidity tools preferred at
present.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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