investingLive Asia-Pacific FX news wrap: Trump says prepare 4 extended indefinite blockade

Asia‑Pacific FX markets opened with thinner liquidity as Japan’s Showa Day holiday reduced regional participation. Geopolitical risk dominated after reports President Trump ordered aides to prepare an extended blockade of Iran, briefly lifting oil before prices retraced; the US dollar gained modestly on the risk move. Australian Q1 CPI showed headline inflation surged on energy, while the trimmed‑mean core print was softer than feared, prompting swaps to cut the probability of an RBA hike to about 75% for the 5 May meeting (from ~85% prior). The PBOC set the USD/CNY fixing at 6.8608 (vs. 6.8347 estimate). The Australian and New Zealand dollars weakened on the session. Overall the note is a market‑commentary wrap highlighting geopolitics pushing oil and dollar moves, and domestic Australian inflation data tempering near‑term RBA tightening expectations.