* Most Asian currencies on track for weekly gains
* Reuters poll shows decline in bearish bets vs Asia FX
(Adds text, updates prices)
SINGAPORE, Jan 13 Most Asian currencies slipped
on Friday but were on track to post weekly gains, after U.S.
President-elect Donald Trump's news conference this week offered
little clarity on his fiscal policy plans and dented the dollar.
The Philippine peso slipped 0.3 percent on the
day, weighed down by falls in Philippine shares. The Indonesian
rupiah and Indian rupee eased 0.2 percent.
A bigger-than-expected drop in China's exports in December
weighed on Asian currencies, although the Chinese trade data
also contained some encouraging signs, with imports rising
slightly more than expected.
Traders seem to be looking to buy the dollar on dips, said
Stephen Innes senior trader for FX broker OANDA in Singapore.
"The Trump reflation trade is springing a leak, but I don't
think it's over," Innes said.
Against a basket of six major currencies, the dollar stood
at 101.27, having pulled up from Thursday's five-week low
Dollar bulls had been disappointed by Trump's news
conference on Wednesday that offered no details on his plans for
infrastructure spending and tax cuts.
"There's a bit of doubt on whether markets have been overly
optimistic in pricing in the impact of fiscal stimulus and tax
cuts, and now there's an ongoing reassessment," said Chang Wei
Liang, FX strategist for Mizuho Bank in Singapore.
Asian currencies, however, will probably come under pressure
going into February and March, given the risk of a rise in U.S.
trade protectionism under the Trump Administration, Chang said.
A Reuters poll published on Thursday showed that sentiment
towards most emerging Asian currencies improved in recent weeks,
with bearish bets against China's yuan falling to the lowest in
three months after Beijing clamped down on capital outflows and
CURRENCIES VS U.S. DOLLAR
Change on the day at 0746 GMT
Currency Latest bid Previous Pct Move
Japan yen 114.62 114.75 +0.11
Sing dlr 1.4272 1.4272 +0.00
Taiwan dlr 31.585 31.780 +0.62
Korean won 1172.21 1184.70 +1.07
Baht 35.40 35.37 -0.08
Peso 49.620 49.480 -0.28
Rupiah 13310 13285 -0.19
Rupee 68.23 68.08 -0.22
Ringgit 4.4610 4.4560 -0.11
Yuan 6.8923 6.8901 -0.03
Change so far
Currency Latest bid End prev Pct Move
Japan yen 114.62 117.07 +2.14
Sing dlr 1.4272 1.4490 +1.53
Taiwan dlr 31.585 32.279 +2.20
Korean won 1172.21 1207.70 +3.03
Baht 35.40 35.80 +1.14
Peso 49.62 49.72 +0.20
Rupiah 13310 13470 +1.20
Rupee 68.23 67.92 -0.45
Ringgit 4.4610 4.4845 +0.53
Yuan 6.8923 6.9467 +0.79
(Reporting by Masayuki Kitano; Additional reporting by IFR
Markets' Catherine Tan; Editing by Jacqueline Wong)