Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform individually against the USD as the global market remains choppy around Trump's tariff policy changes. The biggest winners are INR by 0.46%, followed by KRW 0.14%, MYR 0.11% and TWD 0.04%; while the largest losers are THB 0.49%, PHP 0.18%, IDR 0.15%, SGD 0.09%, CNH 0.07% and CNY 0.03%.

USD/CNH is trading higher at 7.2571 from 7.2522 previously closed. Onshore spot market is trading higher at 7.2518 from 7.2493 from previously closed. 12 month NDF followed both the on/offshore market and is trading lower at 7.0802 compared to 7.0715 previously closed.

USD/IDR spot market is trading lower at 16502 from 16485 previously closed. 1 month NDF is trading lower at 16540 from 16502 previously closed.

USD/INR onshore spot market is trading lower at 85.98 from 86.36 previously closed. 1 month NDF is trading lower at 86.30 from 86.60 previously closed.

NA Session

The USD recovered from an early dip as equities and UST yields moved off early lows after Trump stated there would be flexibility on tariffs. USD/JPY rebounded above 129 after slipping to 148.60. EUR/USD and GBP/USD ended little changed though GBP/USD saw a brief move below 1.29 as gilt yields rise on fiscal worries while EUR/USD briefly tested 1.08 on a report that French President Macron was seeking EU retaliation against US tariffs. AUD/USD slipped to .6275 from .63, seeing AUD/CAD weaker near .90.