Asian markets were painted red on Tuesday with Chinese stocks leading losses as disappointing PMI services data fuelled concerns over the nation’s sluggish economic recovery.

An air of anticipation gripped financial markets on Friday morning as the countdown to the pivotal US jobs report ticked down.

It has been a choppy affair for the USDJPY over the past few weeks.

China’s central bank hijacked the headlines on Tuesday morning after unexpectedly reducing a key rate by the most since 2020 to shore up its weak economy.