🇨🇭LIVEDESK: FX FLOWS

• FX flows in Asia are up 1% from Friday, although still down 24% on the five-day moving average. In G10 FX the standout flows have been banks buying EURUSD and USDJPY. AUD vols are a bit lower again in the front end, with the spot failing to break out of its recent range. AUDUSD lm is 0.15 lower, though the desk is still seeing bids for US payrolls, RBA, and RBNZ dates.

• In EM, the standout flow has been banks buying USDCNH, though this has been largely offset by macro names selling USDCNH. EM vols are not really doing much today, with minimal volumes going through the market. The desk has marked CNH vols a bit lower in the front end. USDCNH lm remains on a 3-vol handle, even after the weekend roll.