The expectation of interest rate hikes by the Federal Reserve has led to a weakening of Asian currencies

According to Gate market data, influenced by the Federal Reserve's interest rate hike expectations, Asian currencies generally weakened against the US dollar in the morning session. The market expects the Federal Reserve to raise interest rates by 25 basis points this week, with the probability rising to 88%.

The US dollar rose 0.3% against the South Korean won and the Japanese yen, trading at 1,345.8 and 154.06, respectively; the Australian dollar fell 0.2% against the US dollar, trading at 0.7151.