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Big global currencies are rarely on different paths. Yet Japan's yen and China's yuan are slumping against the dollar while in Europe the euro is outperforming and sterling is on a tear.
Western central banks have been warned this week not to quit in the final lap of their monetary tightening campaign - the hard yards households and financial markets may now find exhausting.
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A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
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The European Central Bank will likely keep raising interest rates after its next meeting even as the economy slows because inflation remains too high, ECB policymaker Martins Kazaks said on Tuesday.
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Turkey's lira touched a record low of 26.10 against the dollar early on Tuesday during low liquidity hours, after an official and bankers said the central bank had stopped using its reserves to support the currency.