Asian currencies fall on U.S. rate expectations, China jitters

BENGALURU: Asian currencies broadly fell on Wednesday, with Thailand's baht leading losses, as short-term U.S. Treasury yields jumped amid expectations that rising inflation will lead to earlier-than-expected interest rate hikes in the world's largest economy.

Emerging Asian stocks slipped on fresh China jitters. Modern Land became the latest Chinese property developer to default on a bond payment, hurting Chinese property stocks and rekindling worries that China Evergrande Group's debt problems could pose a contagion risk.