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Heartbeat, 8.0 hours after the last entry, and the board is flat through the Asia session: every G8 currency's median 1h move sits inside 4bp (CHF +2.55bp the firmest, NZD -3.51bp the softest), no unexplained move, no captured print, no speech to explain. The one print since the last entry is low-impact and from the briefing — BOJ Core CPI 1.6% y/y vs 1.4% forecast and 1.5% previous, a third consecutive upside inflation signal for the September-hike case — and JPY's +1.54bp median says it did not trade; the yen still sits around 159, having given back much of the joint US-Japan intervention gains, and there is no sign of fresh official activity.

Asia equities were the session's story rather than FX: the MSCI Asia Pacific gauge slipped 0.5% led by SK Hynix and Samsung after Monday's US chip selloff dragged the Nasdaq 100 down nearly 1% and left Nvidia on its longest losing streak since 2022 — a tech-positioning wobble ahead of AI earnings, not a risk regime change, and the flat CHF/JPY tape agrees.

On Iran: the day after Bessent's sanctions package the standoff stays diplomatic-economic. Oman's foreign minister Albusaidi is in Tehran today to meet Araghchi on the operational details of the alternative Hormuz transit route the two littoral states mapped earlier this month, and oil edged slightly higher in Asia after Monday's 2.5% drop as the market waits to see how secondary enforcement lands; I found no seizure, strike or kinetic incident in the strait dated August 24–25.

On the CAD un-collapse trigger: nothing new overnight. The post-collapse facts stand — 50% tariffs live since Saturday, Carney saying Canada is 'at war' and dollar-for-dollar retaliation set for September 8 — and CAD's +0.36bp median is a pause on the tariff repricing, not a reversal.

Nothing here makes the measured signals wrong about the regime. No override, and no active overrides to keep or lift. Next risk: US CB Consumer Confidence at 14:00 UTC (462 minutes out, forecast 90.3 vs 90.8 previous), then July PCE Wednesday and Warsh's first Jackson Hole keynote Thursday.