USD/JPY is once again breaking lower today, similar to how yesterday's session unfolded, although we are seeing less positive to the rest of the Asian region compared to yesterday. USD/CNH is actually slightly higher, with the pair pushing towards 6.7500. Onshore equity sentiment is weaker in China, while Hong Kong shares are being led lower by the tech sector. This may reflect disappointment around the Politburo meeting not being clear around any fresh stimulus measures.
- 1 month USD/KRW is off its earlier highs but has been unable to break below overnight lows close to 1295. Kospi gains are diminishing. We were last at 1297.
- USD/SGD is lower but only by around 0.10% to 1.3785/90.
- IDR (+0.50%) and PHP (+1.06%) are much firmer, but these trends were evident before renewed yen strength kicked off.