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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.
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Free AccessMost USD/Asia Pairs Higher As Yen Weakens
USD/Asia pairs are mostly higher, which is in line with generally firmer USD tone against the majors, most notably yen. Asian FX losses are modest but fairly uniform at this stage. USD/CNH has crept higher, while onshore spot has lost ground as well. Still to come today is Taiwan CPI, while Singapore and Hong Kong FX reserves are also out. Tomorrow, we have Taiwan trade figures for April, along with March Philippines trade data and Indonesia FX reserves.
- USD/CNH has spent most of the session with a modest upside bias. Sellin interest has been evident on moves above 7.2200, while onshore spot is back to 7.2170. The yen is down around 0.40%, so that will have weighed on yuan sentiment. In terms of local equities, we are close to flat so far in Tuesday trade.
- 1 month USD/KRW is slightly higher, last near 1356, around 0.20% weaker in won terms. Onshore markets were closed yesterday, with onshore spot slipping back sub 1360, as this market plays catch up. Onshore equities are up around 2%, in line with solid tech gains offshore. Again though, the slightly firmer USD backdrop against the major is providing an offset to these positive.
- Philippines inflation data was slightly under expectations, but he BSP still sees risks towards the upside, particularly for the next few quarters. USD/PHP is little changed, last around 57.20/25.
- USD/IDR is slightly higher, last around 16055, an IDR loss of 0.20%. USD/THB is slightly lower, last near 36.75. The new Thailand Finance Minister stated he hopes the government and central bank can be coordinated from a policy standpoint.
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Why MNI
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.