USD/JPY quickly falls yet again

US debt nears $39T! Entitlements & interest costs surge, risking fiscal disaster. Borrowing $43.5B/week.

China inflation misses forecasts as producer deflation persists Soft inflation reinforces expectations of continued monetary support

RBA’s Hauser says inflation too high, vows action to return to target. AUD jumps. The remarks reinforce expectations of a continued tightening bias,

China January CPI 0.2% y/y (expected 0.4%)

PBOC sets USD/ CNY mid-point today at 6.9438 (vs. estimate at 6.9109) PBOC CNY reference rate setting is strongest for CNY since 11 May 2023.

Australia housing finance jumps in Q4 as markets weigh May RBA hike The data add marginal support to a “higher for longer” backdrop for Australian rates, but are unlikely to be a standalone trigger

ICYMI - PBOC pledges loose policy, ample liquidity in Q4 report The report reinforces expectations of ongoing policy support in China,