ForexLive Asia-Pacific FX news wrap: Yen higher ...Middle East

Japan expects an increase in debt-service costs by 25% by 2028Trump says he has been briefed on 'terrible accident' - helicoper and plane collideRBA looks at how changes in monetary policy flow through to the economy, impact inflationReserve Bank of Australia Brad Jones, Assistant Governor (Financial System) speaking soonGoldman Sachs still expect June and December Federal Reserve rate cutsIf you hear of an incident at DCA airport in Washington - there is an aircraft downNissan to cut worker numbers at Tennessee and Mississippi plantsBank of Japan Deputy Governor Ryozo Himino is speaking soonYen finding strength, USD/JPY around 154.50Goldman Sachs CEO sees narrow range of 2025 Federal Reserve rates amid inflation concernsNational Australia Bank forecasting a February Reserve Bank of Australia interest rate cutAustralian export prices rise in Q4 2024Trump to rescind rule requiring states to set declining targets 4 greenhouse gas emissionsNew Zealand January business confidence 54.4 (prior 62.3)Canadian Foreign Minister Joly says 'cautiously optimistic' about tariff talks with RubioArrangements for a meeting between Trump and Japan PM Ishiba close to being finalisedBank of Canada Governor Macklem says tariff threat weighing on CADSubtle shift in the FOMC statement language indicates why rate cuts have been put on holdGoldman Sachs says Federal Reserve is waiting for further inflation progress to cut againReserve Bank of Australia to cut interest rates say ANZ, Commonwealth Bank and WestpacForexlive Americas FX news wrap 29 Jan. The BOC cuts rates by 25 bps. Fed remains steady.New Zealand data - December 2024 trade balance surplus (exports up, imports weaker)Markets in Asia will be disrupted by holidays again todayTrump speaking - he is really upset the Federal Reserve didn't cut interest ratesMicrosoft and Tesla shares lower after earningsTrade ideas thread - Thursday, 30 January, insightful charts, technical analysis, ideas

JPY was the notable mover on the session. USD/JPY traded from an early session high around 155.20 to lows circa 154.30 before stabilising somewhat (its poking 154.60 as I update).

There was no major fresh news for either the USD or JPY. One item I did note was that plans have firmed up for a meeting between Japan's Prime Minister Shigeru Ishiba and President Trump in Washington on February 7. In the post to let everyone know, I speculated that there might be some currency discussion between the two, a lower dollar and a higher yen would be a win for each of them. I thought perhaps such a discussion would be unlikely, but maybe there was something in it. I can’t find anything else that may have catalysed the move down for the pair today.

One thing I will add is that liquidity was thinner than normal with Hong Kong and Singapore markets out for holidays (mainland China too).

Elsewhere major FX was relatively subdued. As I post the USD is gaining a few tics.

In non-market news, there was a horrendous collision in Washington DC between a military helicopter and a commercial passenger plane. There are multiple fatalities.

This article was written by Eamonn Sheridan at www.forexlive.com.

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