TOKYO -- Asian currencies came under selling pressure and traded near their lowest levels for the year on Wednesday as higher interest rates both at home and abroad have started weighing on regional economies.
Currencies
Asian currencies hit new 2023 lows as economic growth struggles
Fed's higher-for-longer stance weighs increasingly on Asian markets
The U.S. Federal Reserve maintains hawkish rhetoric, raising the prospects of further interest rate hikes and widening the rate differentials between U.S. and Asian economies. © Reuters
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