Asia Open - Overnight Highlights

EMERGING ASIA
EM currencies perform individually against the USD as the greenback became volatile in the New York session after stronger then expected U.S. CPI. PHP saw the largest gain of 0.11%, followed by MYR 0.08%; the biggest loser is THB 0.51%, SGD 0.14%, CNH 0.1%, KRW 0.05%, HKD and CNY 0.02%, INR 0.01%.
USD/CNH is trading higher at 7.1873 compared to the 7.1779 at previously closed. Onshore spot USD/CNY is trading higher at 7.1824 from 7.1816 previously closed. 12 month NDF diverged from both the on/offshore market and is trading lower at 6.9872 compared to 6.9875 previously closed.
USD/IDR spot market is closed. 1 month NDF is trading higher at 15558 from 15520 previously closed.
USD/INR onshore spot market is trading higher at 82.77 from 82.76 previously closed. 1 month NDF is trading higher at 82.87 from 82.83 previously closed.
NA Session
The USD gained some ground in the North American session, after US February CPI came in a little above expectations at 0.4% m/m for both headline and core. The initial knee-jerk USD bounce faded perhaps because the core rise was only just 0.4% (0.358 unrounded), but the USD strength soon resumed before partially and gradually unwinding in the afternoon.
USD/JPY could not quite regain its knee-jerk highs above 148 but EUR/USD slipped to a low just above 1.09 before gradually retracing around half its losses. GBP/USD after slipping from near 1.28 to touch below 1.2750 erased nearly all of its losses. The USD ended around 0.1% higher overall.