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Fresh Lows On Spill Over From GBP Weakness

ASIA FX

USD/Asia Pairs are seeing gains across the board, as GBP weakness dominates in the G10 space. USD/CNH is through 7.1600, +0.30% on NY closing levels. Note we have the USD/CNY fixing coming up shortly. USD/KRW spot is through 1429, while USD/SGD was last at 1.4365. The betas with respect to GBP moves are much lower, but we are still seeing fresh cyclical highs in these USD/Asia pairs. We would expect the firmer USD bias to persist elsewhere in the region when these markets open.

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USD/Asia Pairs are seeing gains across the board, as GBP weakness dominates in the G10 space. USD/CNH is through 7.1600, +0.30% on NY closing levels. Note we have the USD/CNY fixing coming up shortly. USD/KRW spot is through 1429, while USD/SGD was last at 1.4365. The betas with respect to GBP moves are much lower, but we are still seeing fresh cyclical highs in these USD/Asia pairs. We would expect the firmer USD bias to persist elsewhere in the region when these markets open.