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ForexLive Asia-Pacific FX news wrap: USD/JPY swings. PBoC cuts. RBA next.

Heads up: RBA monetary policy decision coming at the bottom of the hour

RBA lowers the cash rate target to 3.85% vs 4.10% prior as widely expected

The AUD falls on more dovish RBA forecasts

RBA Governor Bullock: Must now keep inflation down, well placed to do so

RBA Governor Bullock: Did discuss 25 bps or 50 bps cut

Germany April PPI -0.6% vs -0.3% m/m expected

South Korea end-March household credit marks fastest growth Y/Y since end-June 2022

US and Japan are expected to hold talks on Friday, May 23

South Korea, U.S. will resume tariff talks on Tuesday, aiming for July trade deal

Australian politics – Opposition coalition splits. Nationals withdraw.

China’s state planner approved 27 fixed asset investment projects in January – April