Fed Rate Hike Pressures Asian Currencies Ahead of BOJ Meeting

The US Federal Reserve's recent rate hike is putting pressure on Asian currencies, particularly the yen, ahead of the Bank of Japan's monetary policy meeting this Friday. Market strategists believe the yen could weaken towards its 200-day moving average of around 158 per dollar.

Bond yields in Asia are expected to follow their US counterparts, while stocks sensitive to interest-rate movements are under pressure. The hawkish stance taken by the Federal Reserve is seen as a key factor driving these market dynamics.