FX flows are up 43% from yesterday and 41% vs the five-day average. USD traded steady in Asia today post-F0frIC. There has been a small bias to sell USD led by asset managers and macro names, while retail names have bought USD. Risk is trading well post-FOMC.
G10 FX is trading broadly lower against USD. The desk has net sold USD against other G10 currencies, led by macro names. There are no standout flows of note.
USD/Asia has been net sold, with the standout flow being USDIDR selling by real money. In USDKRW and USDTWD, we've seen buying interest from equity names in 3m outrights, likely for hedges. EM Asia vols have gone another leg lower across the board.
Via UBS
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