With oil holding onto levels and a late night rally that stalled into Asia open most Oil linked currencies are enjoying at least some relative strength. CAD has strengthened overnight and RUB has rallied against the EUR and USD. GBP weakness stalled to an extent around 1,3800 and has been trading sideways. EURUSD found bids around 1,0950 as Wiedmann downplayed chances of bond purchases. Emerging markets generally has been relatively strong, Brazil downgrade at US open stirred things up a bit but did not last. USDZAR however is higher around 4% from lows due to a disappointing budget that risks a downgrade.
