Markets React as Tensions Rise Between White House and Federal Reserve Over Interest Rate Pressure 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
U.S. Prosecutors Investigate Fed Chair Jerome Powell Over Headquarters Renovation 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
New York Fed President John Williams Signals Rate Hold as Economy Seen Strong in 2026 
Philippine Central Bank Signals Steady Interest Rates as Inflation Rises and Growth Slows 
Thailand Economy Faces Competitiveness Challenges as Strong Baht and U.S. Tariffs Pressure Exports 
Bank of Korea Expected to Hold Interest Rates as Weak Won Limits Policy Easing 
Bank of Japan Signals Cautious Path Toward Further Rate Hikes Amid Yen Weakness 
As we could see the change in delta risk reversal numbers into negative territory, that signals underlying pair would resume its bearish travel in next 1 weeks time.
Since, the bank lending in Japan rose 2.0%, compared with a gain of 2.1% expected year-on-year for March.
He also stated that he expects CPI to pick up toward 2% target, as a result financial markets continue to be volatile.
The yen was mostly firm and steady in Asia on Tuesday as investors anticipated policymakers may attempt to further jawbone the currency weaker after a recent surge against the dollar.
USD/JPY traded at 107.92, down 0.02%, while AUD/USD traded at 0.7591, down 0.05%.
The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.27% at 93.97.
Our hedging strategy (Put Ladder) seems to have mitigated FX fluctuating risks as it contains short in 1W ATM put since implied volatility is not expected to be higher (below 11%) when risk reversals are lesser comparatively to 1M expiries which is good for option writers in next 1 week, and short another 1W (1%) OTM put with positive thetas, simultaneously go long in 2W (1%) ITM -0.67 delta put option.
