The post-election shift in expectations has left many emerging market currencies and assets vulnerable if investors rotate more funds back to the United States.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dropped 0.4 percent to hover just above its four-month low touched earlier in the week. It looked set to log its fourth straight week of losses.
Japan's Nikkei share average rose to a 10-1/2-month high on Friday as the yen weakened further against the surging dollar, raising prospects for better-than-expected exporters' earnings.
The Nikkei ended 0.6 percent higher at 17,967.41, its highest level since Jan. 6.
China stocks slid on Friday, as energy and transport shares shed some recent gains, causing an end to the main indexes' five-week winning streak.
The blue-chip CSI300 index fell 0.6 percent to 3,417.46, while the Shanghai Composite Index lost 0.5 percent to 3,192.86 points.
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