Trump Tariffs Send Asian Currencies Reeling Against Dollar

Asian currencies weakened against the US dollar on Friday after President Donald Trump's new tariffs took effect, pushing Treasury yields higher and fueling inflation concerns.

The US Dollar Index hovered near a three-week high against a basket of currencies as investors worried about higher import costs and energy prices keeping the Federal Reserve cautious on monetary easing.

Benchmark Treasury yields climbed to fresh multi-month highs overnight, with the 10-year yield rising above 4.7% and the 30-year yield remaining above 5%, underpinning broad dollar demand.