Asian shares edge up after tough week; $ picks steam

Sep 29, 2017, 3:34 AM EDT

Asian shares recovered on Friday after a tough week that saw Treasury yields breaching nine-year highs along with escalating borrowing costs across the region amid speculations of a U.S. rate hike.

The gains in Treasury yields came as “a much-needed” tonic for the U.S. dollar, putting the currency on track for its best week so far in the year, notes Reuters.

U.S. President Donald Trump’s proposal for steep tax cuts, which simply appears too large to be realistic, also played a role in making U.S. equities more attractive while rattling share, bond and currency markets in Asia, writes Business Day.