Mighty dollar pushes Asian governments to boost currency protection

TOKYO -- Asian governments are increasingly taking action to stop the fall of their currencies that have been battered this year by the mighty U.S. dollar. 

The strength of the American economy and its higher-for-longer rates have translated to weaker Asian currencies. Asian policymakers are responding to the dollar's strength in varying degrees, from issuing verbal warnings to raising interest rates. Some are even believed to have intervened by buying their local currency -- a tricky move that could dent a central bank's credibility.