MNI: PBOC Net Injects CNY276 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY278 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1159 Weds; -1.39% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1159 WEDS VS 7.1148

MNI China Daily Summary: Tuesday, June 18

MNI: PBOC Net Injects CNY84 Bln Via OMO Tues; Rates Unchanged

Japan May Exports +13.5% Y/Y; Imports +9.5% Y/Y

MNI BRIEF: Japan May Exports Rise On Automobiles, Auto Parts

MNI: JAPAN MAY EXPORTS +13.5% Y/Y; APRIL +8.3%

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Greenback Bid Places Broad Pressure On Regional Currencies

LATAM FX
  • As noted last week following the hawkish hold from the Fed, a 0.25% increase for the USD index extended the streak of consecutive weekly advances to ten. Further strength today sees the USD index trade to fresh 2023 highs, breaking above the prior March peak at 105.88.
  • Higher US yields keeping the pressure on local currencies with particular pressure on the Colombian peso and USDMXN extending gains in recent trade to over 1%. USDCLP has also printed briefly above the 900 mark, where scope is seen for a climb towards $912.67, the 61.8% retracement of the Sep ‘22 - Feb ‘23 bear leg.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN up 1.04% at 17.3818
    • USDBRL up 0.51% at 4.9633
    • USDCLP up 0.72% at 899.67
    • USDCOP up 1.42% at 4035.3
    • Bloomberg Dollar Index up 0.36% at 1262.52
    • USDCNH up 0.23% at 7.3155
    • JPMorgan EM Ccy Index down 0.35% at 47.17
    • S&P E-Mini Future down 14 points (-0.32%) at 4346.25
    • Copper Futures up 0.05 (0.01%) at 366.60
    • US 10-Yr yield is up 8.1 bps at 4.515%
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