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EM ASIA FX-Asian currencies wary ahead of US job data
March 10, 2017 / 6:53 AM / 6 months ago

EM ASIA FX-Asian currencies wary ahead of US job data

    * Won up on president Park's exit
    * Taiwan dollar, Indonesian rupiah fall in weak equities
    * Markets cautious ahead of U.S jobs data

 (Adds text, updates prices)
    By Patturaja  Murugaboopathy 
    March 10 (Reuters) - Asian currencies wobbled on Friday as
investors awaited U.S job data later in the session which could
set the tone for a rate hike next week and more this year.
    The South Korean won rose slightly after a
Constitutional Court upheld a parliamentary impeachment vote and
removed President Park Geun-hye from office.
    Economists said the move, which paves the way for elections
within 60 days, would provide some clarity on leadership in the
country.
    The Indian rupee also edged up after exit polls
predicted a win for Prime Minister Narendra Modi's party in
Uttar Pradesh, the country's most populous state.
    However, non-deliverable forwards slightly
weakened, suggesting the market senses a risk that Saturday's
results may diverge from the exit polls.
    The Taiwan dollar and the Indonesian rupiah
fell on the back of weakness in their domestic markets and
foreign outflows.
    "Everyone is waiting for non-farm payrolls, trying to keep
risk on the low side", said Andy Ji, a currency strategist at
Commonwealth Bank of Australia.
    Analysts polled by Reuters forecast that U.S. employers
likely added 190,000 workers last month, fewer than January's
227,000, while average hourly earnings likely grew 0.3 percent
following a 0.3 percent fall in January.
        
    THAI BAHT
    The Thai baht was down 0.1 percent to 35.366 per
dollar, the lowest since Jan 20.
    The baht is set for its worst weekly fall in about four
months of nearly 1 percent. 
    Foreigners have been net sellers of Thai equities recently.
They have sold more than $250 million so far this month, adding
to $100 million sales in February.
    Also, rising U.S Treasury yields have closed up the gap with
Thai bonds' yields, spurring more selling in Thai bonds.
Thailand's 10-year government bond yields of 2.84 percent are
just about 23 basis points higher than the U.S 10-year Treasury
bonds.
   CURRENCIES VS U.S. DOLLAR 
  Change on the day                                      
    at   0619 GMT                                
  Currency             Latest bid  Previous day  Pct Move
  Japan yen           115.400            114.91     -0.42
  Sing dlr            1.419              1.4203     +0.10
  Taiwan dlr          31.065             31.020     -0.14
  Korean won          1158.100           1158.1     +0.00
  Baht                35.369             35.336     -0.09
  Peso                50.335              50.39     +0.11
  Rupiah              13390.000           13385     -0.04
  Rupee               66.690              66.71     +0.03
  Ringgit             4.455               4.459     +0.10
  Yuan                6.914              6.9070     -0.10
                                                         
  Change so far                                          
  Currency            Latest bid   End 2016      Pct Move
  Japan yen           115.400            117.07     +1.45
  Sing dlr            1.419              1.4490     +2.12
  Taiwan dlr          31.065             32.279     +3.91
  Korean won          1158.100          1207.70     +4.28
  Baht                35.369              35.80     +1.22
  Peso                50.335              49.72     -1.22
  Rupiah              13390.000           13470     +0.60
  Rupee               66.690              67.92     +1.84
  Ringgit             4.455              4.4845     +0.67
  Yuan                6.914              6.9467     +0.48
 

 (Reporting by Patturaja Murugaboopathy with Additional
Reporting by Gaurav Dogra in Bengaluru; Editing by Kim Coghill)
  
 
 

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