The Australian dollar was an outperformer, rising ahead of a Reserve Bank of Australia meeting on Tuesday where the central bank is widely expected to hike rates

Most Asian currencies kept to a tight range on Monday amid persistent uncertainty over the U.S.-Israel war on Iran.

The Australian dollar was an outperformer, rising ahead of a Reserve Bank of Australia meeting on Tuesday where the central bank is widely expected to hike rates.

Most other Asian currencies dithered as the Iran war showed few signs of easing, keeping oil prices high and fears of energy-fuelled inflation largely in play.

The yuan’s USD/CNY pair gained 0.1 per cent after industrial production and retail sales data for the first two month of 2026 read stronger than expected.

The prints showed real manufacturing activity remained robust amid strong export demand, while consumer spending picked up during the Lunar New Year holiday.

Chinese fixed asset investment also unexpectedly grew in the period, returning to growth for the first time since August 2025. The print indicated some increasing confidence among Chinese businesses, especially as spending on artificial intelligence picked up.

But China’s unemployment rate unexpectedly rose in the Jan-Feb period, pointing to continued weakness in some aspects of world’s second largest economy.

Other Asian currencies moved in a tight range on Monday, with the yen’s USD/JPY pair dropping 0.1 per cent, while the Singapore dollar’s USD/SGD pair was flat.

The Indian rupee’s USD/INR pair gained 0.1 per cent and hit a record high of 92.711 rupees, given that world’s fourth largest economy is seen as among the most exposed to energy market disruptions in the Middle East.

The won’s USD/KRW pair declined 0.3 per cent.

The Australian dollar’s AUD/USD pair was an outperformer in Asia, advancing 0.4 per cent.