USD/JPY, USD/CNY: Dollar slips as Asian stocks slide; BOJ hike seen in December

The US dollar slipped during the Asia-Pacific session as Asian stocks slid. The source reports no specific price moves, pip figures or technical levels. The People's Bank of China set the USD/CNY reference rate at 6.7195. Bloomberg reports that most analysts now expect the Bank of Japan's next rate hike in December, and none expect an October move. That timeline is relevant for USD/JPY. The Bank of Korea held its policy rate at 3% after back-to-back hikes and kept the door open to a November move, a factor for USD/KRW. In energy and geopolitics, the WSJ reports that Iran's floating oil reserves in Asia have run dry under a US naval blockade. Separately, Kinder Morgan has committed to a $4.2 billion Texas gas pipeline to power hyperscale data centers. In corporate news, Bloomberg says Elon Musk is racing to seal a $3.7 trillion SpaceX-Tesla merger before Trump exits. For traders, a softer dollar and weaker Asian equities frame the session. December BOJ hike expectations and a possible November BoK move are the key policy markers for yen and won positioning.