Most Asian currencies weaken as US dollar rises to 154.82 against the yen

During the Asian trading session, most Asian currencies weakened. Previously, the 10-year U.S. Treasury yield surged above 5% on Monday, before closing at 4.960%. Analysts from Commerzbank Research Department stated in a report that the rise in U.S. Treasury yields was mainly driven by persistent inflation concerns, high oil prices, the government's large-scale financing needs, and a significant amount of corporate bond issuance related to artificial intelligence investments. The analysts pointed out that the 5% level is of great psychological and economic significance. If yields remain above this level, it will further tighten financial conditions. According to LSEG data, the U.S. dollar rose 0.3% against the Japanese yen in intraday trading to 154.82; rose 0.45% against the South Korean won to 1353.14; and the Australian dollar fell 0.15% against the U.S. dollar to 0.7126.