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SWITZERLAND

CHF LIBOR FIX - 13-04-2021

JAPAN

JPY LIBOR FIX - 13-04-2021

UK

GBP LIBOR FIX - 13-04-2021

US

USD LIBOR FIX - 13-04-2021

COMMODITIES

Oil Parameters Unchanged For Now

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In general, tight ranges and lack of catalysts, the greenback lost some ground but is still above yesterday's opening levels.

  • CNH: PBOC fixed USD/CNY at 6.5463, 3 pips below sell side estimates. Offshore yuan is weaker, USD/CNH testing yesterday's high. China's FX reserves fell by US$35bn in March to US$3.17tn largely because of valuation effect from exchange rate conversion and asset price changes. Overall, there remains no evidence China's central bank is intervening to weaken the yuan.
  • SGD: Singapore dollar is stronger, USD/SGD remains sandwiched between its 50-day moving average at 1.3363 and the 200-day moving average at 1.3505.
  • TWD: Taiwan dollar is higher again, TWD is on track for a fourth day of gains. TWD still boosted by yesterday's reports that Taiwanese authorities were considering travel bubble agreements. After market the Taiwan central bank said it smoothed forex market volatility in March, despite being on the US Treasury's currency manipulator watchlist. Data showed forex reserves fell $4.28b in March from end-Feb., the first M/M decline since May 2019.
  • KRW: The won is weaker, but is off worst levels. South Korea reported 700 new coronavirus cases in the past 24 hours, the highest in three months amid rising concerns that the country's vaccination campaign may hit a snag due to safety concerns over AstraZeneca jabs
  • MYR: Ringgit is weaker, palm oil futures are slightly lower today after climbing to a two-week high yesterday as traders anticipated better demand over the Ramadan period.
  • IDR: Rupiah is lower, Indonesian Health Ministry said it will have to slow the pace of vaccinations, owing to export embargoes imposed by several producing countries.
  • PHP: Peso has lost ground, Philippine trade deficit shrank in Feb, but slightly less than expected. Exports fell unexpectedly, while imports grew less than forecast.
  • THB: Baht is lower, PM Prayuth expressed a sense of concern with the resurgence of Covid-19 infections in Bangkok and suggested that fresh restrictions might be forthcoming.