Asian Currency Markets (JPY, CNY, KRW)💱 Forex•USD/JPY

Asian Currencies Mixed: JPY Weakens, CNY Stable, KRW & INR Face Challenges

February 5, 2026, 12:02 AM164 words9 sourcesAI-Generated · Reviewed by editorial team
USD/JPY
Asian Currencies Mixed: JPY Weakens, CNY Stable, KRW & INR Face Challenges

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Asian currency markets presented a mixed picture this week. The Japanese Yen experienced significant weakness, sliding to a nearly two-week low against the USD due to concerns surrounding Japan’s fiscal policy under the current administration and political uncertainty. Traders are alert for potential intervention, though the Bank of Japan’s tightening narrative offers some support. Conversely, the Chinese Yuan saw a slight strengthening as the PBOC set the USD/CNY reference rate lower, though the impact is expected to be moderate. South Korea’s Won remains under pressure following contracting GDP data, with the Bank of Korea prioritizing volatility management over specific rate targets. The Indian Rupee initially rallied on news of a potential US-India trade deal, but gains are tempered by a lack of concrete details. Japan’s service PMI hit an 11-month high, potentially offering some Yen support, while US employment data is predicted to miss expectations, potentially impacting the USD. Regional equities were largely lower, except for Indian shares which benefited from trade deal optimism.

Source Articles

This article is based on analysis of 9 source articles from our news database.

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