Asian Currencies Mixed as Dollar Hits Seven-Week High After Fed Hike
Asian currencies traded mixed on Thursday as the U.S. dollar hovered near a seven-week high following the Federal Reserve’s first interest-rate hike in three years. Meanwhile, the Japanese yen remained near a two-week low ahead of the Bank of Japan’s closely watched policy decision. The U.S. Dollar Index held around 100.30 after gaining 0.7% overnight. The Fed unanimously raised its benchmark interest rate by 25 basis points to 3.75%-4.00%, with policymakers projecting another increase this year. Rate futures indicate roughly a 90% probability of an additional 25-basis-point hike by year-end....
