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Risk appetite soured as heightened hopes......>

FOREX
FOREX: Risk appetite soured as heightened hopes for wider, concerted measures
against the economic fallout from the Covid-19 epidemic dwindled somewhat. G7
FinMins & central bank chiefs are set to hold a phone call on the matter later
today, but a RTRS source noted that draft communique does doesn't call for
increased fiscal stimulus or coordinated monetary easing. JPY firmed up over the
Tokyo fix, strengthening still in reaction to the RTRS report.
- AUD bounced as the RBA "only" delivered a 25bp rate cut & said that once
Covid-19 is contained, domestic econ should "return to an improving trend," esp.
given targeted measures from the gov't. Earlier, AUD slipped as PM Morrison said
that gov't & RBA are "highly aligned" re: their response to Covid-19.
- USD/Asia traded in a mixed manner, with USD/yuan making some ltd gains.
Monetary & fiscal measures announced by Indonesia y'day amplified initial
USD/IDR sales & the rate is yet to fill the opening gap.
- BoE's Carney, ECB's Holzmann, Norges Bank's Nicolaisen & Olsen, Riksbank's
Breman, and Fed's Evans & Mester will speak. EZ unemployment & flash CPI take
focus on the data front. BNM will deliver its MonPol decision within hours.  

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