CNBC Daily Open: Fed’s inflation worries didn’t bother markets

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Fed cautious about inflation and Trump's policies
At their December meeting, U.S.Federal Reserve officials expressed concern that inflation would stubbornly remain above the central bank's 2% target, and over the possible impact of U.S. President-elect Donald Trump's policies. Consequently, officials would be moving more slowly on interest rate cuts, minutes released Wednesday showed.

U.S. stocks shrugged off inflation concerns
U.S. stocks eked out a small gain on Wednesday even though the 10-year Treasury yield touched to its highest since April following the release of the Fed's minutes. Asia-Pacific markets mostly traded lower on Thursday. Australia's S&P/ASX 200 closed 0.24% lower as data showed the country's retail sales rose less than expected in November.

Asian central banks face strong U.S. dollar
Asian currencies, such as the Chinese yuan, the Japanese yen and the Korean won have fallen against the U.S. dollar since Trump won the presidential election in November. That poses a conundrum for Asia's central banks: A weaker currency would boost exports but might increase imported inflation, complicating the ability of banks to steer domestic economic policy.

Fears of deflation in China
China's consumer price inflation in December was up 0.1% year on year, data from the National Bureau of Statistics showed Thursday. On a monthly basis, China's CPI came in flat, compared with November's 0.6% decline. China's persistently low consumer inflation indicates that China is struggling with weak