Asia Open - Overnight Highlights

EMERGING ASIA
EM currencies are trading individually against the greenback as the USD chops around on Trump's last announcement of tariffs. The largest winners are THB 0.59%, followed by TWD 0.14%, CNY 0.11%, CNH 0.1%, IDR 0.06%; while the biggest losers are KRW 0.3%, INR 0.18%, MYR 0.1%, SGD 0.06% and PHP 0.04%.
USD/CNH is trading lower at 7.1717 from 7.1789 previously closed. Onshore spot market is trading lower at 7.1701 from 7.1782. 12 month NDF followed both the on/offshore market and is trading lower at 7.0009 from 7.0067 previously closed.
USD/IDR spot market is trading lower at 16218 from 16224 previously closed. 1 month NDF is trading higher at 16244 from 16233 previously closed.
USD/INR onshore spot market is trading higher at 85.79 from 85.64. 1 month NDF is trading higher at 85.99 from 85.83 previously closed.
NA Session
The USD saw little overall change in North America. Equities saw only modest losses after Trump’s tariff escalation with Canada, but UST yields picked up, and that lifted USD/JPY above 147 to touch 147.50. EUR/USD remained close to 1.1690 awaiting news on tariffs, but EUR/GBP moved above .8650 as GBP/USD remained under pressure, seeing lows below 1.35.
There was no significant US data but June Canadian employment sharply exceeded expectations with a rise of 83.1k, which saw USD/CAD slip from 1.37 to near 1.3650, where it was trading before the tariff escalation. A rebound above 1.37 followed, before eventually setting near 1.3685.