Tuesday, March 27, 2018

FW: [Maybank] Sentiment Stabilizes

 

 

Sentiment Stabilizes

Global Markets Daily
by Saktiandi Supaat

FX Research

Asian equities extended their rebound this morning, as fears of trade war unwound on WSJ report that US and China quietly started negotiations to improve US access to Chinese markets (which we highlighted in our GM Daily yesterday). Long JPYKRW (proxy FX play for trade war) eased off recent highs while the sharp decline in USDCNH from 6.31 to intra-day low of 6.2402 further reinforced the decline in most USD/AXJs. In particular KRW and MYR were the main beneficiaries. We reiterate our bias ...

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