Asian Shares Fall as US Treasury Yields Hit One-Year Highs

Asian stocks declined Friday after U.S. Treasury yields reached one-year highs, increasing trader expectations for Federal Reserve rate hikes this year. The yield surge has strengthened rate hike bets significantly. USD strength from higher yields pressures Asian currencies and commodity pairs. Rate hike expectations typically boost dollar demand, creating selling pressure on EUR/USD, GBP/USD, and emerging market currencies tied to Asian economies.