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FOREX
FOREX: The risk-off impulse hit Asian markets as regional players came in and
digested signals pointing to a second wave of Covid-19 infections in the U.S.
That being said, initial moves were pared and JPY fell from the top to the
bottom of the G10 pile, as U.S. equity index futures turned green & regional
stock mkts recovered from worst levels. AUD, NZD & NOK continued to struggle,
but bounced off worst levels, while CAD became the best performer in the space.
GBP was limited, even as the UK & EU decided to "intensify" Brexit talks, while
Cabinet Office Min Gove is set announce that the UK will introduce a
"light-touch scheme" instead of full customs checks on its border with the EU.
- USD/Asia mostly traded higher, with IDR leading losses in the space even as
Bank Indonesia intervened in spot, NDF & bond markets to prevent excessive IDR
appreciation. KRW remained weak as USD/KRW rallied above its 200-DMA as it
gapped higher at the reopen of onshore trade. USD/CNH edged higher, although the
daily PBoC fix was a tad stronger than expected.
- Monthly UK GDP & activity indicators, U.S. U. of Mich. Survey, French CPI &
comments from ECB's Wunsch take focus from here.

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