ForexLive Asia-Pacific FX news wrap: USD fell as we await CPI data

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The
US dollar added to its losses on Wednesday during the session here in
Asia today. AUD, NZD, CAD, GBP, gold, EUR (though its lagged a
little) and even the troubled yen rose against the big dollar. There
was news out late in the US afternoon of administration efforts
seeking to seize some of the USD300bn in frozen Russian assets, this
added to the dollar offer.
</p><p>News
and data flow was subdued. There was a huge slump in Australian
imports in December reported, which does not indicate an economy
firing on all cylinders.
</p><p>There
were items, though, from China:</p><ul><li>China
will ease some visa requirements to make it easier for foreigners to
travel for business, education and tourism. This appears to be a move
to bolster the economy.
</li><li>The
People’s Bank of China approved a total of 100 bn yuan in group
housing leasing loans</li><li>And
further on the PBoC, it pushed back against yuan weakness at today’s
reference rate setting, with the widest gap to estimates since
November. That is, it was the strongest fix (for CNY) relative to
estimates since November. </li></ul><p>Offshore yuan, CNH, rose.
</p>

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