Buoyed By China PMI Beats

Asia FX is tracking post the China PMI beats. USD/CNH is back sub 6.9400, we did hit a low of 6.9345 before support emerged. China related equities are higher, led by gains in HK indices. The ADXY index is back above 100.40, after the index got close to 100.00 at the start of the week.

• 1 month USD/KRW is back to 1316/17, down around 0.40% for the session so far. Although onshore markets are closed, so liquidity is likely lighter in this pair. 1 month USD/TWD is back to 30.55, 0.3% firmer in TWD terms.
• USD/THB and USD/PHP are both down by around 0.60% so. USD/THB back to 35.15, USD/PHP to the low 55.00/05 region.
• USD/IDR is only slightly lower, but it is early days for the local session. Spot USD/SGD is relatively steady around 1.3480, although this is in line with the majors, which aren't showing the same degree of gains against the USD.
• USD/MYR is also relatively steady, last near 4.4885, which is at odds with the firmer yuan tone.