(April 21): Asian currencies dipped in holiday-thinned trading on Friday (April 21), and were on course for weekly losses, as the increased probability of an interest rate hike by the US Federal Reserve at its next meeting continued to weigh on sentiment. Asian markets have largely been subdued this week, with the lack of significant triggers keeping trading confined to narrow ranges. Money markets are now pricing in a nearly 86% chance the Fed will hike rates by 25 basis points next month, compared to a 69% chance last week. This likelihood of an interest rate hike in May was further reinforced by Fed speakers overnight. Back in Asia, shares in Seoul fell 0.7% and were set for their first weekly loss in six.
