Crisis Level Risks Loom in Asia as Major FX Crack.

When the yuan and yen both fall, "the pressure can translate to dollar buying and hedging demand for those exposed to emerging-market currencies", she said. The yuan and yen are both tumbling due to the growing disparity between an uber-hawkish Federal Reserve and dovish policy makers in China and Japan. The yen tumbled passed 145 per dollar for the first time in more than two decades Thursday after US-Japan monetary policy divergence widened further when the Fed raised interest rates for a fifth straight meeting the day before. [Extracted from the article]