Slipped In Risk Off Environment

The won props up the performance tables in a broadly risk off session with the greenback holding its gains from Tuesday.

• CNH: Offshore yuan held a narrow range in Asia-Pac trade, hovering around neutral levels after weakening overnight. Officials said yesterday China's market liquidity will remain basically balanced and it won't have big gap or large fluctuations in the coming months
• SGD: Singapore dollar is flat, USD/SGD holding gains from the previous day, authorities remain on high alert after there were 328 locally transmitted cases in the past 24 hours.
• TWD: Taiwan dollar is weaker, USD/TWD moving away from cycle lows with continued chatter of state bank USD buying.
• KRW: Won is weaker, the worst performer in Asia. Late yesterday there were some comments from FinMin Hong, he said that it is likely there will be more BoK interest rate hikes ahead, while coronavirus cases jumped back above 2,000.
• MYR: Ringgit is weaker, PM Ismail Sabri announced that the entertainment sector will be allowed to reopen tomorrow to fully vaccinated Malaysians, with capacity limits in place. BNM will release their monetary policy decision tomorrow.
• IDR: Rupiah declined, Danareksa Consumer Confidence rebounded to 71.2 in August from 62.1 recorded in July while Bank Indonesia's consumer sentiment gauge slipped to 77.3 from 80.2
• PHP: Peso is lower, authorities have postponed easing restrictions in the National Capital Region. Metro Manila will remain under Modified Enhanced Community Quarantine (MECQ) through Sep 15.
• THB: Baht fell, A source from the ruling PPRP told the Bangkok Post that the party's SecGen Thamanat will keep his post, PM Prayuth "might not trust him as much as he used to," following accusations that Thamanat was behind a plot to oust Prayuth.