Emerging markets: Vietnam dong falls to record low as most Asian currencies set for weekly losses on aggressive Fed

Image from Vietnam News/ANN

HANOI/BANGKOK Oct 21 (Reuters): Most Asian currencies were set for weekly losses on Friday, with the Malaysian ringgit down for an eighth straight week, dented by a resilient dollar and soaring Treasury yields on prospects of more hefty rate hikes by the Federal Reserve.

Appetite for riskier assets in emerging markets has been dampened by mounting fears of a global recession, entrenched inflation, and hawkish comments from U.S. Federal Reserve officials.