SINGAPORE, Jan 16 Reuters Asian shares hit a onemonth low, U.S. stock futures fell and the dollar rose on Tuesday as hawkish remarks from central bankers tempered expectations for interest rate cuts and traders waited to hear from the Fed39;s influential Christopher Waller.

MSCI39;s broadest index of AsiaPacific shares outside Japan fell 1.4 to its lowest since midDecember.

The Hang Seng headed for its worst session of the year, dropping 2 to a 14month trough. Japan39;s Nikkei snapped a sixsession winning streak and retreated from a 34year high, closing 0.8 lower at 35,619.

U.S. markets were shut for a holiday on Monday, but SP 500 futures were 0.5 lower in Asia trade on Tuesday and Nasdaq 100 futures dropped 0.6. European futures fell 0.6 and FTSE futures fell 0.3.

Fed funds futures also dropped notably for Asia hours reflecting a slight cooling in interest rate cut expectations and shortterm Treasury yields rose.

Twoyear yields were last up 7 basis points and tugged the dollar to onemonth highs on the risksensitive Australian and New Zealand dollars.

On Monday, European bonds were sold after European Central Bank officials pushed back on market bets on rate cuts. EURGVD

Bundesbank President Joachim Nagel said it was too early to discuss cuts and Austrian central bank governor Robert Holzmann warned not to bank on a cut at all this year.

The upshot … was to see money markets scaling back the implied probability of a 25 bp ECB cut in March to 26 from 40, said…