* Baht revisits Friday's peak, its highest since late Oct.
* Rupee touches highest since Nov. 10
* Focus on Trump's Feb. 28 speech to Congress
* Market awaits specifics on U.S. tax reform plans
(Updates prices, adds text)
SINGAPORE, Feb 27 The Indian rupee set a
three-month peak and the Thai baht hovered at a four-month high
on Monday, as investors looked to U.S. President Donald Trump's
speech to Congress later this week for fresh catalysts.
The Thai baht rose to 34.85 per dollar. That
matched Friday's peak, which was the highest in almost four
The Indian rupee touched a high of 66.645, its
strongest level since Nov. 10.
Emerging Asian currencies such as the baht and Indian rupee
held firm ahead of Trump's speech to the joint session of
Congress due on Tuesday.
Trump will use the event to preview some elements of his
sweeping plans to cut taxes for the middle class, simplify the
tax system and make American companies more globally competitive
with lower rates and changes to encourage U.S. manufacturing,
Treasury Secretary Steven Mnuchin told Fox News Channel's
"Sunday Morning Futures" programme.
Uncertainty over whether Trump will offer enough details on
his plans for infrastructure spending and tax reforms, were
helping to weigh on the dollar, traders said.
"The market is positioning for disappointment," said Stephen
Innes, a senior trader for FX broker OANDA in Singapore.
"Traders are going to start asking themselves undoubtedly,
the longer the tax reform gets played out, is the market's
expectations too high?"
At the same time, traders will probably be wary of selling
the dollar aggressively ahead of Trump's address, Innes said.
The Indonesian rupiah showed limited reaction to news
that Indonesian police exchanged gunfire with an attacker after
a reported explosion in a government building in the city of
The rupiah hardly moved after the news, and was last down
0.1 percent on the day at 13,345. The rupiah remains
within its trading range so far in February of between 13,385 to
CURRENCIES VS U.S. DOLLAR
Change on the day at 0513 GMT
Currency Latest bid Previous Pct
Japan yen 112.22 111.96 -0.24
Sing dlr 1.4052 1.4050 -0.01
Taiwan dlr 30.650 30.650 -0.00
Korean won 1131.40 1131.50 +0.01
Baht 34.85 34.91 +0.17
Peso 50.275 50.215 -0.12
Rupiah 13345 13329 -0.12
Rupee 66.71 66.82 +0.17
Ringgit 4.4410 4.4370 -0.09
Yuan 6.8769 6.8700 -0.10
far in 2017
Currency Latest bid End prev Pct
Japan yen 112.22 117.07 +4.32
Sing dlr 1.4052 1.4490 +3.12
Taiwan dlr 30.650 32.279 +5.31
Korean won 1131.40 1207.70 +6.74
Baht 34.85 35.80 +2.73
Peso 50.28 49.72 -1.10
Rupiah 13345 13470 +0.94
Rupee 66.71 67.92 +1.82
Ringgit 4.4410 4.4845 +0.98
Yuan 6.8769 6.9467 +1.01
(Reporting by Masayuki Kitano in Singapore; Editing by Randy