Weaker EUR, JPY Weigh On Regional FX Sentiment

USD/Asia pairs are mostly higher, albeit to varying degrees. Cross asset headwinds are evident with a weaker EUR evident in the G10 space, with EU weekend results weighing. US yields are also a touch higher, building on Friday's strong gains. Regional equities are mixed, although China/HK markets are closed today.

• USD/CNH is higher firming above 7.2700, but found selling interest near 7.2730. CNH weakness is in line with EUR and JPY weakness, although the beta with respect to such moves remains low. China markets return tomorrow. This week we get new loans/credit figures for May, along with Inflation data for May as well.
• Spot USD/KRW got above 1380 in early trade, but found some selling interest above that level, we lats track near 1377/78, still around 0.90% weaker in KRW terms. Local equities are down by around 0.30% at this stage, but still above the 2700 level in index terms.
• Spot USD/IDR has gapped higher back to 16290, which is around recent highs. The 1 month NDF is slightly higher, last near 16300/05. Consumer sentiment eased to 125.2 from 127.7 in April.
• USD/THB spot has risen by over 1% to 36.90/95. Recent highs in the pair rest above 37.00 from late April.
• USD/MYR has gaped higher, last near 4.7200 and back above the simple 200-day MA. IP for April was close to forecast, printing at 6.1%y/y.
• Spot USD/PHP is back up to 58.75/80, also close to earlier June highs, near 58.83.
• Spot USD/INR is around 83.50, with Reuters reporting central bank USD sales are likely going through at this level.