Free Trial

Won Gains In Muted Asia Trade

ASIA FX

A number of Asian financial centres were closed in observance of public holidays, which limited liquidity across Asia EM FX space.

  • CNH: Offshore yuan wobbled as participants assessed local Covid-19 developments and prepared for the upcoming FOMC policy meeting. Spot USD/CNH jumped as Beijing closed over 40 metro stations but then pulled back sharply, before trimming losses.
  • KRW: Spot USD/KRW re-opened on a softer footing. The pair clawed back some losses as North Korea conducted another missile test, firing an apparent ballistic missile towards the East Sea.
  • PHP: Spot USD/PHP crept higher, narrowing in on key resistance from PHP52.500. The Marcos-Duterte tandem keeps a comfortable lead over rivals ahead of the May 9 election.
  • Markets were closed in mainland China, Indonesia, Malaysia and Thailand.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.