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USD Off Earlier Highs, Regional Equities Firmer, US Equity Futures Up From Lows

CROSS ASSET

The latest round of dealing has seen some USD softness emerge. Moves in terms of the majors have been modest, but AUD (last 0.6435) and NZD (0.5890/95) are up from session lows, although are little changed versus NY closing levels from Thursday. The BBDXY last near 1266.20 (against earlier highs of 1267.55). Thursday lows were 1264.70 for the index.

  • USD losses have coincided with US equity futures ticking up from earlier lows, Eminis are back close to flat. Nasdaq futures are still down but away from earlier lows.
  • US bond futures have ticked higher to 107-15+, but with Japan markets closed today (no cash Tsy trading), overall moves remain modest.
  • In Asia markets have largely ignored the Caixin services PMI miss. HK equities are just off session highs (+1.6%). The Kospi is +1% higher, China markets are up ~0.50%
  • USD/KRW 1 month is sub Thursday lows, last near 1326. USD/CNH remains on the sidelines, last near 7.3260. Onshore spot is 7.3180.
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