Emerging Asian currencies weakened on Monday as the Federal Reserve signalled a longer duration of higher rates to tame soaring inflation, lifting the U.S. dollar to a 20-year high and hitting Thailand's baht and South Korea's won particularly hard. Indonesia's rupiah and the Philippine peso weakened 0.4% and 0.1%, respectively, while Singapore's dollar fell 0.4% to a more than one-month low. The dollar index, which tracks the currency against six major peers, rose 0.2%, pressuring most regional currencies, after Fed Chair Jerome Powell's hawkish remarks at the Jackson Hole symposium on Friday.

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