FW: [Maybank] One Direction No More

 

 

One Direction No More Global Markets Daily by Saktiandi Supaat FX Research For a market that has been rather one-directional for the past few years, the recent equity sell-off looks more like a healthy correction than a meltdown. FX reacted accordingly but there was little sense of panic. After all, this market has seen more mean reversions than the rest. Tellingly, Asian FX (including JPY) moved less than 1% against the USD on Mon. Most G10 currencies also weakened less than 1% vs. the greenback. The GBP and NOK saw a bit more depreciation... Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Fiona Lim     (65) 6320 1374     fionalim@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.