Asia FX: yuan muted after weak Chinese PMI, yen stems losses on hot Tokyo CPI

The Asian foreign exchange market is reacting to recent economic data, with the yuan showing muted performance following disappointing Chinese PMI figures. This indicates potential economic slowdown in China, which could have broader implications for the region. Meanwhile, the yen is managing to stem its losses thanks to a hotter-than-expected consumer price index in Tokyo, suggesting inflationary pressures that could influence monetary policy. These developments are crucial as they reflect the economic health of major Asian economies and can impact global markets.