july 13 reuters  a look at the day ahead in asian markets from jamie mcgeever financial markets columnist asian markets could not be in better spirits going into the latest south korean interest rate decision and chinese trade data on thursday thanks to the dollars slump and global market rally on wednesday sparked by another steep decline in us inflation  the one percentage point fall in june headline consumer price inflation to 30 strengthened hopes that the us economy is heading for a soft landing  boosting risk appetite and more importantly for emerging markets slamming the dollar  the greenback fell around 12 against a basket of major currencies on wednesday its biggest fall since november to its lowest in over a year latin american currencies hit a 10year high and emerging asia fx could follow that lead on thursday asia and pacific currencies in the g10 space were among the best performers on wednesday the new zealand and australian dollars surged 16 both chalking up their biggest oneday rise since january and japans yen rose 14 for its best day since march the yen has risen five days in a row its longest winning streak against the dollar since november it is up 5 in that time which has cooled talk of yensupportive intervention from japanese authorities and contributed to japanese stocks decline of around the same magnitude the kiwi dollars rally came as traders digested the central banks decision on wednesday to hold its cash rate steady at 55 hitting pause as expected and flagging that rates would be on hold for some time most economists still expect rate cuts to come in 2024 the thai baht meanwhile may be subject to greaterthanusual volatility and political risk on thursday as thailands parliament convenes to elect a prime minister  paving the way for a new government to be formed likely by early next month the outcome of thursdays vote is far from certain and the south korean won will take its cue from the bank of koreas policy decision and guidance all 46 economists in a reuters poll say the bok will keep its key policy rate unchanged at a 15year high of 350 and for the rest of the year inflation is at its lowest in 21 months and getting closer to the boks 2 target so the won could be sensitive to guidance on when the bank might begin easing policy chinese trade figures are expected to show yet another sharp fall in crossborder activity last month with exports and imports predicted to fall 95 and 45 year on year respectively that would be the biggest fall in exports since january  economists at socgen are penciling in a 157 crash yes trade data from china could dampen the mood in asia but it would have to be a particularly gloomy set of numbers for the feelgood factor infusing markets to fizzle out completely here are key developments that could provide more direction to markets on thursday  south korea interest rate decision  china trade june  thailand parliament elects new prime minister