USDAsia crosses are mostly trading in their broad ranges since August. Activity data this week will likely continue to paint a challenging growth picture for the region. Without a meaningful turnaround in China and EM demand, and with G2 policy divergence set to drive further EURUSD weakness, USDAsia is expected to resume its climb eventually. Indeed, the upward USD momentum has picked up against some Asian EM currencies. China has in recent weeks been gradually pushing CNY fixings lower versus USD, and the latest fixing is at the weakest level since 28 August, or about a mere 0.3% away from the post 11-August ... (full story)