Yen Slips Below 156 as Fed Hikes Rates in Line with Expectations

The U.S. Federal Reserve's rate hike on Thursday sent shockwaves across Asian currencies, causing the Japanese yen to dip into the 156-range against the dollar.

The U.S. Dollar Index, a measure of the greenback's strength, rose above the 100 mark following the Fed's decision, which was in line with market expectations.

Asian currencies broadly weakened against the dollar as investors adjusted their positions in anticipation of higher interest rates in the United States.