But although the weak yen has been one of the most important catalysts for Japan’s outperformance, its latest slide might take a back seat to Tuesday’s global equity selloff.
On the data front, figures are expected to show India’s wholesale price index rose 0.53% year-on-year in January, with strong gains in food prices offset by fuel deflation.
Wholesale prices have been flirting with deflation for almost a year, and another weak print on Wednesday could put the rupee under added downward pressure.
The Indonesian rupiah, meanwhile, may be sensitive to domestic politics as the country goes to the polls.
Defence minister Prabowo Subianto is frontrunner in the race to win power in the world’s third-largest democracy, but it is unclear whether he is on tack to get the simple majority needed to avoid a runoff.
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