Asian currencies fluctuate, possibly supported by prospects of a US Federal Reserve interest rate cut.

Asian currencies against the US dollar fluctuated in early trading, but may be supported by the prospect of a Fed rate cut, which usually boosts risk appetite. Analysts at Deutsche Bank Research said in a research report that the main tone seems to be consolidation. However, these analysts said that US inflation data for January was "mild and in line with expectations." Additionally, last Friday, federal fund futures reflected expectations of a total of 63 basis points of rate cuts by the Fed by the end of the year, compared to 56 basis points the previous week. The dollar rose 0.3% against the Japanese yen to 153.15 yen, rose slightly by 0.3% against the South Korean won to 1,444.21 won, while the Australian dollar rose 0.1% against the US dollar to 0.7074.