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Gains For Second Session


Positive risk sentiment and a weaker greenback has put Asia FX on the front foot today. US Tsy Sec nominee Yellen managed to boost risk appetite with her testimony that hinted at even more stimulus spending.

  • USD/CNH 131 pips lower at 6.4675. The PBOC kept LPR rates unchanged, while adding liquidity to the system again.
  • USD/SGD down 36 pips at 1.3257, the pair has trended lower through the session and sits just above support at 1.3250.
  • USD/TWD hovering below the 28.00 handle again, the pair has eked out some small gains after accounting for opening/closing swings.
  • USD/HKD down 5 pips at 7.7518 and coasting along the bottom of the band. The Hang Seng has soared again amid continued inflows.
  • USD/KRW dropped with the won higher for the second consecutive day. USD/KRW last down 3.70 at 1099.10
  • USD/IDR last 14027, down slightly, extending yesterday's losses but capped by the descending 50-DMA
  • USD/MYR down 18 pips at 4.048, markets await the upcoming BNM decision.
  • USD/THB down 57 pips at 29.97. The pair re-opened on a softer footing after Thai ministers OK'd a cash handout scheme, while Bangkok authorities said they will apply for easing local Covid-19 curbs.

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