Asian shares edged higher after the Federal Reserve raised interest rates by a quarter point, its first hike in more than three years, and signalled one further increase this year. The unanimous decision was viewed as hawkish, prompting Goldman Sachs to forecast another hike in October and futures markets to price a 50% chance of a move as soon as next month. Short-term Treasury yields rose sharply, helping the U.S. dollar reach a seven-week high, while longer-dated bond yields eased and the yield curve bear-flattened (short-term yields rising faster than long-term yields). The stronger dollar pressured commodities, with Brent crude falling 0.7% to $105.05 a barrel, while gold rose 1% to $4,305 an ounce. The Bank of England was expected to keep rates unchanged, with investors watching for signals about a possible November hike, while the Bank of Japan was all but certain to raise rates on Friday.