October 1, 2014 / 9:54 AM / 3 years ago

EM ASIA FX-Won slips after weak data, lags regional peers

(Updates prices. For earlier report, double click
 )
    SINGAPORE, Oct 1 (Reuters) - The South Korean won slumped to
a six-month low versus the dollar and lagged regional peers on
Wednesday after economic data bolstered expectations that the
Bank of Korea will cut interest rates this month.
    The won fell after data showed South Korean inflation hit a
7-month low last month and manufacturers reported a decline in
export orders, backing expectations that the central bank could
ease monetary policy when it meets on Oct. 15. 
    The won, which also came under pressure as foreign investors
trimmed exposure to risky assets, fell to a low of 1,064.5
against the dollar, its weakest level since late
March. 
    It later pared some losses and was quoted at 1,062.7 to the
dollar at the conclusion of onshore trade. 
    Other Asian currencies were mixed. The Thai baht eased 0.1
percent. The Indonesian rupiah erased earlier losses
and rose 0.5 percent, while the Malaysian ringgit edged
up 0.2 percent.     
    Emerging Asian currencies have been under pressure recently
as investors positioned for the possibility that when the U.S.
Federal Reserve tightens rates - which many see in the second
quarter of 2015 - then the pace at which borrowing costs rise
will be faster than expected.
    An increase in U.S. borrowing costs and rises in U.S. bond
yields can dampen the appeal of higher-yielding currencies and
assets.
    
    CURRENCIES VS U.S. DOLLAR
                            
  Change on the day at   0908 GMT
  Currency    Latest bid   Previous day    Pct Move
  Japan yen       109.78         109.60       -0.16
  Sing dlr        1.2752         1.2760       +0.06
  Taiwan dlr      30.485         30.436       -0.16
  Korean won     1063.20        1055.20       -0.75
  Baht             32.46          32.42       -0.11
  Peso             44.88          44.88       -0.01
  Rupiah        12125.00       12180.00       +0.45
  Rupee            61.70          61.77       +0.11
  Ringgit         3.2725         3.2805       +0.24
  Yuan            6.1395         6.1395       +0.00
                                 
  Change so far in 2014          
  Currency    Latest bid  End prev year    Pct Move
  Japan yen       109.78         105.28       -4.10
  Sing dlr        1.2752         1.2632       -0.94
  Taiwan dlr      30.485         29.950       -1.75
  Korean won     1063.20        1055.40       -0.73
  Baht             32.46          32.86       +1.25
  Peso             44.88          44.40       -1.08
  Rupiah        12125.00       12160.00       +0.29
  Rupee            61.70          61.80       +0.16
  Ringgit         3.2725         3.2755       +0.09
  Yuan            6.1395         6.0539       -1.39
                                 
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 (Reporting by Masayuki Kitano; Editing by Richard Borsuk)

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