* There has been some consolidation in USD on Wednesday as UST, sold off following yesterday, rally. RUB is bid with flows showing a net USDRUB sold today amid headlines regarding dialogue between Russian President Putin and US President Biden.
* In Asia FX, macros have been buying into dips in USDHKD, USDCNH and USDTWD. SGD is the standout in Asia FX with macro buyers following a more hawkish MAS overnight.
* In G10, directional Flow is muted. There has been some GBP buying into the dip, although there have been macro buyers in EURGBP. AUD is firmly holding onto gains, with vols basing after trading soft in recent sessions and systematic vol supply drying up as AUDUSD breaks out of its recent range.
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