Asian markets mixed as traders digest Fed's hawkish pivot

Equities fluctuated Friday and the dollar maintained its gains against its peers as investors assessed the fallout from the Federal Reserve’s outlook for interest rate cuts and possible impact of Donald Trump’s presidency on the economy.

Data showing Japanese inflation rose more than expected last month did little to help the yen, which took a hefty hit from the US central bank’s more hawkish tilt and the Bank of Japan’s refusal to tighten monetary policy.