Asian currencies edge lower as dollar jumps on hawkish Fed

MOST Asian currencies fell on Thursday on the back of a firm dollar, led by the South Korean won and the Philippine peso, after U.S. Federal Reserve Chair Jerome Powell reiterated the possibility of two more rate hikes this year.

The won depreciated the most, declining 0.6% and hitting its lowest level since June 1, while the Philippine peso the Thai baht, and the Singapore dollar weakened between 0.1% and 0.4%.