Asian currencies tread water as USD/JPY hovers near 162 and Philippines inflation stays above 6% y/y
Philippines inflation is still running above 6% year on year, pressured by El Nino risks and food prices, keeping the Bangko Sentral ng Pilipinas hawkish. The article forecasts two additional BSP rate hikes, taking the policy rate to 5.25% by the end of 2026. Elsewhere, USD/JPY is fluctuating around 162 as markets watch whether Japanese authorities intervene to curb excessive yen weakness. The piece also flags upcoming U.S. macro releases including ISM services, the FOMC minutes and CPI, without reporting results.