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CHINA PRESS

Yuan to Maintain Near-Term Strength: Journal

CHINA PRESS

Biden May Be Consumed by Bumpy Recovery: Daily

JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USD Demand Amid Poorer Risk Sentiment

LATAM FX
  • Steady reversals of yesterday's moves with both USDBRL (+1.25%) and USDCLP (1.16%) gaining as US Equity markets exhibit weakness following some poorly received earnings reports. Additionally, Brazil confirming reinfection via the new COVID-19 strain will not have comforted markets as regions struggle with intense second wave implications.
  • Volatile MXN price action surrounding a headline that the Trump administration issues a warning to Mexico over USMCA. The Peso had been struggling all session in line with LATAM peers, however we did spike very briefly making a new marginal high 19.8974. The rally was met with solid supply as markets realised the warning letter was dated from Jan 11 and equities stabilised off their lows.
  • BBDXY remains up 0.62% at 1126.64
  • JPM EM Currency index is down 0.68% at 57.44
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com