Free Trial

Most Asia EM Currencies Fall As Risk Appetite Wanes

  • CNH: Offshore yuan is hovering around neutral levels, the pair briefly touched 6.47 but bounced from the level. The PBOC set USD/CNY reference rate at 6.4650, in line with sell side estimates and essentially flat from the day before.
  • SGD: Singapore dollar rose, data earlier showed Singapore final 2Q private residential prices rise 0.8% Q/Q but CPI data later in the session will be more closely watched.
  • TWD: Taiwan dollar is stronger, USD/TWD consolidating below the 28.00 handle. There government will downgrade the coronavirus alert level on July 27.
  • KRW: Won is stronger but off opening highs as markets consider the government's decision to extend restrictions, coronavirus cases dropped from a record high yesterday but remain elevated.
  • MYR: Ringgit is weaker, data showed CPI grew slightly slower than expected at 3.4% against consensus of 3.5%.
  • IDR: Rupiah is lower, weighed on by the Bank of Indonesia after it lowered the 2021 growth target yesterday due to impact of the pandemic.
  • PHP: Peso declined, weighed on by reports that Manila would be under general community quarantine with stricter curbs from July 23-31.
  • THB: Baht fell, data showed the trade surplus widened less than expected as imports shot above expectations.

To read the full story


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.