Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies are trading individually against the greenback as market participants continue to assess the geopolitical uncertainty regarding Greenland. The biggest losers are KRW 0.29%, INR 0.07%, IDR 0.05%, TWD & HKD 0.03% and PHP & MYR 0.01%; while the largest winners are THB by 0.58% SGD 0.08%, CNY 0.05% and CNH 0.01%.

USD/CNH is trading lower at 6.9557 from 6.9567 previously closed. Onshore spot market is trading lower at 6.9608 from 6.9641. 12 month NDF followed both the on/offshore market and is trading lower at 6.8342 from 6.8379 previously closed.

USD/IDR spot market is trading higher at 16950 from 16942 previously closed. 1 month NDF is trading higher at 16993 from 16972 previously closed.

USD/INR onshore spot market is trading higher at 90.97 from 90.91 previously closed. 1 month NDF is trading higher at 91.40 from 91.17 previously closed.

NA Session

There was little FX movement in the North American session though the USD did see a modest recovery in the afternoon, USD/JPY pushing through 158 to 158.20 while EUR/USD edged down to 1.1715. EUR/GBP sustained its European gains while EUR/CHF sustained its European losses. AUD/USD saw some early gains but could not break .6750. Equities remained under pressure, extending losses in the afternoon as Trump gave a press conference, which added little of note.