investingLive Asia-Pacific FX news wrap: Verbal support for yen does little.The session was dominated by currency stress and central bank signals. Goolsbee set the tone early, acknowledging that US inflation is moving in the wrong direction with services the most troubling component, while carefully leaving the door open to a more benign outcome if tariff effects prove temporary and the Middle East situation stabilises.

Australian Dollar falls despite improved S&P Global PMI data.Australian Dollar falls despite improved S&P Global PMI data

Crude oil unwind hits a hurdle.The headlines remain overwhelmingly bearish for crude, yet repeated tests of the 200-day moving average have failed to delive.

Katayama-Bessent Talks Trigger Mild USD/JPY Pullback, But Intervention Fears Stay Contained.As USD/JPY marched crept closer to 2024's 38-year highs, traders knew they were entering territory where Tokyo becomes increasingly uncomfortable. That sensitivity was evident when Japan's Finance Minister Satsuki Katayama revealed she had held talks with U.S. Treasury Secretary Scott Bessent.

Rupee to ride oil fall tailwind; Fed rate worries may cap gains.The Indian rupee is poised to open higher on Tuesday, underpinned by softer crude prices on progress in U.S.-Iran negotiations, although ​expectations of Federal Reserve rate hikes are likely to temper ‌the rise.

101: United States Dollar Index remains close to 13-month highs.101: United States Dollar Index remains close to 13-month highs

New Zealand softens to near 0.5700 despite US-Iran peace progress.New Zealand softens to near 0.5700 despite US-Iran peace progress

Japan's Kihara says will take appropriate action against FX moves if needed.Japan's Kihara says will take appropriate action against FX moves if needed

Japan PMI Growth Accelerates as Manufacturing Boom Extends.Japan's private sector gained momentum in June, with the Flash Composite PMI Output Index rising from 51.1 to 52.5, the strongest reading since the outbreak of conflict in the Middle East. Growth was broad-based, with the Services PMI Business Activity Index improving from 50.0 to 51.8.

Australia Composite PMI Climbs Toward Growth, But Demand Remains Weak.Australia's private sector showed tentative signs of stabilization in June, with the S&P Global Flash Composite PMI Output Index rising from 48.7 to 49.8. The improvement was driven primarily by services, where the Business Activity Index increased from 48.7 to 49.9.

Dollar firms on hawkish Fed bets, oil rebound; yen near 40-year low.The U.S. dollar held firm on Tuesday as traders positioned for a more hawkish Federal Reserve and oil prices ​rebounded following steep losses, while the yen flirted with a four-decade low.

Fed's Goolsbee: Key Question Is Whether Inflation Stays at 3%-4%.Chicago Fed President Austan Goolsbee said the Federal Reserve's primary challenge is determining whether inflation currently running well above target will gradually recede or remain stuck at elevated levels. Speaking on the Marketplace radio program, Goolsbee noted that policymakers are grappling with “an inflation problem that's well above the target and has been going the wrong way.

US Dollar Bulls Charged Into FOMC, Yen Shorts Intensified | COT Report.USD bulls piled in ahead of the FOMC meeting while yen positioning became even more crowded, according to the latest COT repo.

Australia May CPI preview: fuel drag to mask sticky underlying inflation.The AUD and Australian rate futures will be sensitive to any upside surprise in the trimmed mean, which is the measure the RBA watches most closely for policy signals. All three banks broadly agree that the annual trimmed mean will edge higher in May, ranging from 3.5% to 3.6%, and a print above that range would reinforce the case for the RBA to hold rates at its next meeting or lean further toward a hike.

Brent Oil Prices Fall on Fresh Optimism Over Peace Talks.Brent price fell almost $4 on Monday, after initial fears of stalling peace talks that resulted in weekly opening with gap higher, was replaced by more optimistic tones from top US officials.