Asian markets are poised to round off the week on a positive note on Friday, supported by gains on Wall Street, a weaker dollar and falling Treasury yields the day before.
Japanese policymakers appeared to take a hawkish turn at the Bank of Japan's last meeting, however, with some board members seeing the chance of interest rates rising faster than anticipated. China has been battling consumer deflation for about a year but it's a fight Beijing is struggling to win - producer prices have fallen on a year-on-year basis every month since October 2022, and there is no sign of that changing any time soon.
A devaluation of any magnitude is not without risk and may never come to pass. But the yuan is under pressure against a buoyant dollar and while capital outflows have slowed sharply, inflows have yet to meaningfully pick up.
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