November 18, 2019 / 6:00 AM / 3 months ago

EM ASIA FX-Asian currencies in tight ranges as investors await cenbank, trade clues

    * S. Korean won leads intraday gains
    * FX likely rangebound for week- DBS
    * Baht unaffected by weak GDP data 

 (Adds text, updates prices)
    By Ambar Warrick
    Nov 18 (Reuters) - Most Asian currencies traded in tight
ranges on Monday as investors awaited clues on monetary policy
from some of the world's major central banks and sought clarity
on Sino-U.S. trade talks.
    Minutes of the U.S. Federal Reserve's October meeting are
expected on Wednesday, while markets also await the first major
speech by European Central Bank President Christine Lagarde on
Friday.
    With the trade war clouding the global economic outlook,
investors will be closely watching the two events for clues on
possible central banks policy responses.
    "Markets are on the prowl for good news but exchange rates
are likely to remain range-bound in the quiet week ahead," DBS
said in a note to clients.
    The South Korean won led gains among its peers
and rose about 0.2% to the dollar, as Seoul and Washington
agreed to postpone military drills to bolster peace in the
peninsula with North Korea.
    Other Asian currencies, most of which fell last week amid
uncertainty over trade talks, posted modest moves.
    The Indian rupee rose 0.13% to the dollar, having
lost substantially over the past two weeks amid doubts over
sustainable economic growth.
    The Chinese yuan softened 0.08% to the dollar,
following a marginally stronger central bank mid-point fixing.
    The Thai baht was largely unchanged after data
showed that Thailand's third-quarter GDP slowed as expected. The
country's central bank also lowered its 2019 growth estimate due
to a manufacturing slowdown and an export decline due to a
robust baht, which is Asia's best performing currency this year.

    The Singapore dollar traded flat after the country's
key exports shrank for an eighth straight month in October. The
island state's export-reliant economy has been hit particularly
hard by the tariff exchange between the United States and China.
    "This morning’s weaker-than-expected Singapore non-oil
domestic exports in October was a reminder that the global
recovery ahead is still challenging," DBS said.
    
    The following table shows rates for Asian currencies against
the dollar on Monday.
    CURRENCIES VS U.S. DOLLAR
 Change on the day at   0537 GMT                  
 Currency               Latest bid  Previous day  Pct Move
 Japan yen              108.810     108.73        -0.07
 Sing dlr               1.361       1.3599        -0.04
 Taiwan dlr             30.493      30.538        +0.15
 Korean won             1164.300    1166.6        +0.20
 Baht                   30.230      30.2225       -0.02
 Peso                   50.600      50.56         -0.08
 Rupiah                 14065.000   14068         +0.02
 Rupee                  71.685      71.78         +0.13
 Ringgit                4.152       4.1515        -0.01
 Yuan                   7.013       7.0072        -0.08
                                                  
 Change so far in 2019                            
 Currency               Latest bid  End 2018      Pct Move
 Japan yen              108.810     109.56        +0.69
 Sing dlr               1.361       1.3627        +0.16
 Taiwan dlr             30.493      30.733        +0.79
 Korean won             1164.300    1115.70       -4.17
 Baht                   30.230      32.55         +7.67
 Peso                   50.600      52.47         +3.70
 Rupiah                 14065.000   14375         +2.20
 Rupee                  71.685      69.77         -2.67
 Ringgit                4.152       4.1300        -0.53
 Yuan                   7.013       6.8730        -2.00
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Sam
Holmes)
  
 
 
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