Most Asian currencies kept to a tight range on Thursday and were nursing overnight losses as the minutes of the Federal Reserve’s recent meeting boosted the dollar amid growing concerns over higher-for-longer interest rates. 

Most Asian stocks fell slightly on Tuesday as a stimulus-driven rally in Chinese markets ran dry, while concerns over high for longer interest rates also chipped away at sentiment. 

Top Japanese companies agreed to wage increases of an average 5.58% at annual labour talks that wrapped up in March, the Keidanren business lobby's preliminary data showed on Monday, representing the heftiest pay hike in 33 years.

Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand.

The dollar was firm on Tuesday while the yen struggled on the weaker side of the 156 level, though trade was mostly rangebound as investors generally stuck to their views of the expected timing and extent of Federal Reserve rate cuts this year.