Soothing CNY fix lends a hand to...>

EMERGING MARKETS: Soothing CNY fix lends a hand to TWD, KRW

-Trade-exposed currencies got a decent spell of support in Asia-Pac hours as the

PBoC quelled volatility by fixing USD/CNY weaker, but much firmer than market

expectations. This led KRW and TWD to post decent gains ahead of the close, but

there's clearly still work to be done before the picture looks more positive.

-After a quiet session, INR is rallying into the close as wires report that

India is likely to rollback recently imposed higher taxes on foreign investors.

Indian PM Modi due to speak at 8pm local time (1530BST/1030ET) and will likely

comment on the matter.

-The Bank of Philippines joined the global dovish chorus by trimming rates by

25bps this morning, joining Thailand, India, New Zealand a few others in easing

policy this week. The Peruvian central bank is expected to mirror these moves

later today.

-South African manufacturing production, inflation measures from Brazil, Chile

and Mexico are the calendar highlights.