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A mixed finish to a tumultuous week.
- CNH: Offshore yuan is slightly stronger, but USD/CNH is holding the majority of the week's gains. There were reports that Chinese apps could face subpoenas, or even bans, under a Biden executive order aimed at protecting private information.
- SGD: Singapore dollar is stronger, recovering from the weakest level since April. Elsewhere there were 20 new cases of coronavirus reports in the past 24 hours, down from 35 the day before. The government is reassessing the timing and scope of its next stage of reopening following a rise in local virus cases, there has been no additional information.
- TWD: Taiwan dollar is weaker, on track for its fourth straight day of decline and its worst week since March. Markets continue to digest the CBC rate announcement where the Bank kept rates at a record low but upgraded growth and inflation forecasts.
- KRW: The won is weaker and sitting around a one-month low. South Korea reported 507 new cases in the past 24 hours, above 500 for the third day. Health authorities are set to implement a revamped four-tier social distancing scheme next month, details will be announce over the weekend.
- MYR: The ringgit is weaker, FinMin Zafrul told Astro Awani that officials are looking into additional support measures for people and businesses, which could include an extension to the wage subsidy scheme.
- IDR: Rupiah is weaker, Bank Indonesia left its benchmark interest rate unchanged for the fourth time in a row and stuck to familiar economic projections, with Gov Warjiyo noting that the decision was "consistent with our low inflation projection and maintained rupiah stability and efforts to strengthen the national economic recovery". The Bank pledged to keep monetary policy accommodative.
- PHP: Peso is stronger, BSP Gov Diokno said Thursday that the central bank will keep accommodative monetary policy settings in place, adding that policymakers stand ready to deploy additional supportive measures if needed.
- THB: Baht fell, the Federation of Thai Industries lauded PM Prayuth's proposal to fully reopen the country in 120 days, noting that it will have a positive impact on business confidence.