The dollar index rose above 103, its highest since April 2025, after hotter-than-expected US inflation data. Markets now fully price a December Fed move, with some seeing a potential 50-basis-point hike. Asian currencies weakened broadly. The yen approached the 160-163 intervention zone, trading at 159.73. The Australian dollar fell below 70 US cents to 68.41. Indonesia's rupiah hit a record low. South Korea's won and India's rupee held up better, supported by foreign inflows and domestic factors.
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