NewsHK
The US Federal Reserve's hawkish rate hike is expected to pressure Asian currencies, with the Japanese yen facing particular vulnerability ahead of the Bank of Japan's monetary policy meeting on Friday.
Market strategists indicate that the yen could weaken toward its 200-day moving average of approximately 158 per dollar, while bond yields in the region will likely track movements in their US counterparts.
Tim Waterer, chief market analyst at KCM Trade, noted that nerves are likely to linger across Asian markets due to the Fed's newfound level of hawkishness.
The renewed tightening cycle is eroding the attractiveness of the Australian dollar, despite the Reserve Bank of Australia's relatively high cash rate.
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