Won Slips On Risk-Off Feel & Uptick In Jobless Rate, Yuan Stable After Inflation Data Beats

Familiar jitters surrounding global inflation developments inspired caution, as China's and U.S. price growth rates take focus in mid-week.

• CNH: Offshore yuan remained stable, shrugging off domestic inflation data. The gap between CPI and PPI inflation continued to widen, as price growth topped expectations across both measures. Elsewhere, the situation around Taiwan remained tense, albeit it was reported that the virtual Xi/Biden summit might take place next week.
• KRW: The won went offered and underperformed all of its regional peers, as broader defensive flows kicked in. A larger than expected uptick in South Korea's unemployment rate amplified pressure to the won.
• IDR: The rupiah was a tad softer, even as the results of a monthly survey from Danareksa Research Institute showed improvement in consumer confidence.
• MYR: The ringgit softened amid limited domestic headline flow.
• THB: Spot USD/THB was rangebound ahead of the announcement of BoT monetary policy decision. There is broad agreement among BoT watchers that policymakers will stand pat today.
• PHP: The peso was slightly firmer, as Q3 GDP data released yesterday beat expectations, while Health Sec Duque suggested that Metro Manila could move into Alert Level 1, if daily cases fall below a key threshold.