The forex markets display a calm demeanor in the Asian session, with most major pairs and crosses gyrating in very tight ranges. Australian Dollar finds modest support from the state orchestrated rebound in Chinese Yuan. However, this lift hasn't translated into clear momentum for an extended rally in Aussie. Meanwhile, Yen continues to pare back its recent losses. The release of BoJ's minutes from its January meeting stirred little reaction among traders, as the market's focus is keenly set on the upcoming summary of opinions from last week's pivot meeting instead, expected to be released on Thursday. Dollar's recent rally is on pause, awaiting US PCE inflation data as a potential volatility trigger. Surprises in this data could lead Fed policymakers to recalibrate their projections on the timing and number of rate cuts this year. Atlanta Fed President Raphael Bostic is an example of FOMC member that shifted stance. He revised his expectations to just one rate cut for the year, likely occurring later than initially anticipated. |