ForexLive Asia-Pacific FX news wrap: Little movement across major FX rates

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After
the swings in post-FOMC trade overnight some follow through was
expected in Asia but its been subdued.

Major
forex rates are little net changed after very small ranges. Chinese
equities are up a little on the mainland and up a little more in Hong
Kong.

The
focus for the session was on the Caixin
survey of
China’s
manufacturing
activity. The
PMI came in at an expansionary 50.8, equalling the December result
and above the expected 50.6. It
expanded for a third month in January, extending divergence with
official data, which
is showing persistent contraction (the National Bureau of Statistics
(NBS) manufacturing PMI has been in contraction for nine of the past
ten months).



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