Currency markets have been tranquilized by the tonic of China's easing yesterday, which has underpinned Chinese and other Asian stock markets today. The dollar traded moderately firmer amid the cautious risk-on backdrop. EUR-USD drifted back under 1.1500, but remained comfortably above yesterday's 1.1396 low. USD-JPY recovered to the mid-119s from lows in the mid-118s, with the yen softening as regional stocks rose.
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