Asian currencies tread water as the dollar slipped, pressured by renewed geopolitical concerns. U.S. President Donald Trump’s tariff threats over Greenland sparked caution around American assets, muting risk appetite across the region.

Investors showed little reaction to China’s unchanged lending rates and Japan’s snap election announcement. The Japanese yen held steady despite Prime Minister Sanae Takaichi’s fiscal plans, with focus shifting to the upcoming BOJ meeting and wage negotiations.

Trump’s Greenland push drew European resistance, adding to global uncertainty. Market participants now eye his appearance at the World Economic Forum in Davos, where discussions with European leaders could shape near-term sentiment.

The Taiwan dollar and Australian dollar gained modestly, while the South Korean won and Singapore dollar saw slight advances. The Indian rupee neared 91 per dollar amid concerns over domestic economic health.