It looks like we’re going to see a relatively quiet day in FX markets given the lack of market-moving events. Asian equities have been mixed overnight and left to focus on one of the wilder stories out there that the US could try and undermine the USD/HKD peg by restricting Hong Kong banks' access to USD purchases. HKD 12m forward points moved slightly higher (perhaps they should have move lower if the downside of the USD peg was under threat?), but it seems like this story may quickly fade. After all, the dollar needs all the buyers it can get given the size of the looming US deficits. Elsewhere, the API crude ... (full story)