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Weaker CNH Spilling Over

ASIA FX

There is clear spill over to the other USD/Asia pairs from the break higher in USD/CNH.

  • USD/KRW was holding close to 1430, but we are now back to 1433/34, near highs from the Monday session (1435). Lower equities, with the Kospi off by more than 1% not helping. Comments from Apple that it is ditching plans to raise Iphone production due to weaker demand, haven't helped.
  • USD/SGD is at fresh highs to 1.4420/25.
  • USD/TWD is back up to 31.85, not yet through Monday's highs around 31.90.
  • USD/THB is above 38.00, last 38.07.

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