(Adds details, updates prices)
By Susan Mathew
June 16 Asian currencies were lower on Friday as
the U.S. dollar gained, boosted by strong jobs data which
bolstered the case for a third rate hike in 2017 by the Federal
"The U.S dollar index is a lot firmer and if the majors are
depreciating against the dollar then that typically means the
Asian currencies are going to follow suit," said Tim Condon,
head of Asia research at ING Financial Markets.
The dollar index, recovering from a fall on Thursday
after dismal inflation and retail data, was up 0.1 percent at
0534 GMT after weekly data showed that the number of
unemployment benefit claims in the United States fell more than
Fed Chair Janet Yellen indicated on Wednesday that it
remained confident inflation would rise to its target over the
medium term, bolstered by what she described as a robust labour
market that is continuing to strengthen.
On Friday, the biggest loser among regional currencies was
the South Korean won falling 1.2 percent, followed by
the Philippine peso and the Taiwan dollar
each down 0.5 percent.
The peso was on track to post its worst week since November
The Malaysian ringgit was 0.3 percent lower.
The Chinese yuan edged 0.1 percent lower after
the central bank set the midpoint rate sharply lower
on Friday than the previous day at 6.7995 per dollar, the
weakest level since June 2, reacting to greenback strength
The Singapore dollar slipped 0.2 percent after
rising marginally on data showing a contraction in non-oil
exports was smaller than expected.
For the coming week, the beginning of Brexit talks on Monday
will be a theme influencing investors.
SOUTH KOREAN WON
The won's 1.2 percent drop was its steepest intraday decline
in more-than three months and putting it on track for its worst
week since early April.
A dealer in Seoul said the USD/KRW pair extended its rise
during hour as offshore players and local banks "opted to build
up positions in anticipation of the USD's strength continuing
for some time, thanks to bullish Fed views and prolonged
uncertainty over U.S. politics".
Dollar purchases by the National Pension Service added
momentum, the dealer said.
The Taiwan dollar was on track for a ninth straight day of
losses and its steepest weekly decline since early March.
"It may be a combination of the weakness in yen and a late
reaction from Panama breaking off relations and dropping its
recognition of Taiwan, and recognising China," Condon said.
On Monday, Panama said it had broken with Taiwan to forge
ties with Beijing.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0534 GMT
Currency Latest bid Previous day Pct Move
Japan yen 111.150 110.91 -0.22
Sing dlr 1.386 1.3834 -0.22
Taiwan dlr 30.400 30.247 -0.50
Korean won 1137.500 1124.1 -1.18
Baht 33.990 33.95 -0.12
Peso 49.895 49.63 -0.53
Rupiah 13300.000 13284 -0.12
Rupee 64.720 64.54 -0.29
Ringgit 4.277 4.265 -0.28
Yuan 6.815 6.8100 -0.07
Change so far in 2017
Currency Latest bid End 2016 Pct Move
Japan yen 111.150 117.07 +5.33
Sing dlr 1.386 1.4490 +4.52
Taiwan dlr 30.400 32.279 +6.18
Korean won 1137.500 1207.70 +6.17
Baht 33.990 35.80 +5.33
Peso 49.895 49.72 -0.35
Rupiah 13300.000 13470 +1.28
Rupee 64.720 67.92 +4.94
Ringgit 4.277 4.4845 +4.85
Yuan 6.815 6.9467 +1.94
(Reporting by Susan Mathew in Bengaluru; Additional reporting
by Yena Park from Seoul; Editing by Jacqueline Wong and Richard