investingLive Asia-Pacific FX news wrap: Vance heading to Pakistan for talks with Iran

Geopolitical developments around US–Iran talks and a potential ceasefire dominated Asia‑Pacific markets, keeping risk sentiment cautious. Oil was little changed while the US dollar edged modestly higher as investors positioned into the diplomatic deadline. New Zealand’s Q1 CPI surprised to the upside (0.9% q/q, 3.1% y/y), lifting near‑term RBNZ hike odds and initially boosting the NZD versus the AUD and other majors. However, NZ business confidence fell sharply, underscoring growth risks from higher energy costs and geopolitical strain. The PBOC set the USD/CNY central rate at 6.8594, adding CNY policy attention. Overall the wrap was market‑neutral to mixed: higher NZ rate expectations support NZD, but geopolitical and demand risks keep broader FX and commodity moves contained.