The Nikkei extended losses to 0.8% and USDJPY dipped below 118 as BoJ refrained from cutting rates. The USDJPY move sparked USD selling across the board, with EUR to 1.157 and AUD to 0.821. AUDNZD is trading at a six-week high of 1.072 and NZD underperformed on the back of a weak NZ inflation print. In EM Asia, USDKRW came off from 1090 on the open to 1084. USDTWD also dipped to 31.56, and USDINR opened 0.2% lower to 61.57. MYR, on the other hand, remained relatively sticky above 3.62, and CNH was flat at 6.22.
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