Anna 
The Australian dollar experienced a 0.4% dip following the release of consumer price index data, indicating that inflation in January remained at over two-year lows. This reading counteracted recent warnings from the Reserve Bank of Australia (RBA), which suggested that persistent inflation could prompt additional rate hikes in 2024.
Despite the decline, the inflation figure still held above the RBA’s 2% to 3% annual target, suggesting that the central bank might maintain higher interest rates for an extended period.
Other Asian currencies exhibited a downward trend, with the Japanese yen experiencing further weakness beyond the 150 level. However, more substantial losses were curtailed by the potential for early interest rate hikes and potential government intervention.
The Chinese yuan remained flat ahead of crucial purchasing managers index data for February scheduled for release on Friday. Meanwhile, the South Korean won recorded a 0.3% loss, and the Singapore dollar saw a 0.1% decline.
The Indian rupee stabilized around 82.9 against the dollar, adhering largely to a recently-established trading range.
