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Gains Across The Board In Risk On Trade

ASIA FX
  • CNH: Offshore yuan is flat having hugged a tight range, today is the final day of the Chinese holiday with participants returning tomorrow.
  • SGD: Singapore dollar is flat, There is some concern around the elevated number of new coronavirus cases, there were 3,577 new cases on Wednesday which denoted the highest since the start of the pandemic.
  • KRW: Won strengthens from 2021 lows, data earlier showed South Korea posted a current account surplus for the sixteenth straight month in August.
  • TWD: Taiwan dollar is stronger, market digests data yesterday which showed CPI rose 2.63% in September, the fastest pace of inflation since 2013.
  • MYR: Ringgit gained, Senior Min Hishammuddin announced that Johor will move to Phase Three of the National Recovery Plan, while Pahang will move to Phase Four from Oct 8.
  • IDR: Rupiah is higher, Indonesian parliament convenes for a plenary meeting to discuss a sweeping tax reform, which would raise the VAT and add a new top income tax bracket, among others.
  • PHP: Peso rose, the deadline for filing Certificates of Candidacy (COCs) for the 2022 elections is drawing near though there has been clarity so far.
  • THB: Baht strengthened; September consumer confidence rose to 41.4. Thailand reported over 10k coronavirus cases for the first time in four days.

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