Asia followed up an active FX session in the US where the US dollar declined across the majors’ board with a session of low volatility and small ranges.
On the central bank front we had Federal Reserve Bank of San Francisco President Mary Daly speaking on a public TV interview. Daly said a rate hike from the Fed could come at the March meeting (see bullets above for more). We also saw the release of prepared testimony from Lael Brainard, a member of the Board of Governors of the Federal Reserve System. Brainard is to appear before the US Senate Banking Committee as part of her nomination process as new Vice-Chair of the Fed.
From the People’s Bank of China we had a weaker than expected reference rate set for the onshore yuan (i.e. higher than expected USD/CNY mid-rate).
News flow otherwise was light.
At 10am US ET (1500 GMT)
Federal Reserve Board Governor Lael Brainard testifies before a Senate Banking Committee hearing to consider the nomination to be vice chair of the Federal Reserve: