May 18, 2020 / 5:35 AM / 12 days ago

EM ASIA FX-Most Asian currencies slip on Sino-U.S. trade worries

    * Indonesian rupiah weaker ahead of cenbank meeting on
Tuesday
    * Singapore dlr gains as April export data beats
expectations
    * Indian rupee falls after lockdown extension

 (Adds text, updates prices)
    By Rashmi Ashok
    May 18 (Reuters) - Most Asian currencies lost ground on
Monday as rising Sino-U.S. trade fiction cast a cloud over
investor sentiment, while better-than-expected data lent some
support to the Singapore dollar and the Thai baht.
    Investors stayed away from big bets and waited for further
details on trade talks between the world's two top economies,
after U.S. President Donald Trump on Friday said he was not
"thrilled" with the Phase-1 deal reached in January.

    The White House's top economic adviser said the deal had not
been abandoned and that talks were continuing between both
nations, but markets still remained wary.
    Furthermore, U.S. Federal Reserve Chairman Jerome Powell
sounded a note of caution on Sunday, saying a U.S. economic
recovery may stretch deep into next year and a full comeback may
hinge on finding a coronavirus vaccine.
    The Chinese yuan eased 0.1% to 7.109 against the
dollar, while the trade-sensitive South Korean won
also fell by the same margin.
    The offshore Philippine peso fell nearly 0.5%,
extending losses of nearly 1% it suffered towards the end of
last week. 
    The Indian rupee slipped 0.4% after a nationwide
lockdown was extended until May 31 as cases of the novel 
coronavirus exceeded 90,000, amid clashes between police and
stranded migrant workers over curbs.
    The Indonesian rupiah traded a shade weaker ahead
of a central bank meeting on Tuesday where rates are expected to
be cut for the third time this year in a bid to boost a sagging
economy, according to a Reuters poll.
    Meanwhile, the Singapore dollar ticked higher,
supported by data that showed the country's annual exports rose
for the third straight month in April, boosted by a sharp rise
in pharmaceutical shipments.
    Non-oil domestic exports rose 9.7% from last year, beating a
forecast of a 5% decline in a Reuters poll.
    The Thai baht inched higher after data showed the
economy contracted at its sharpest pace in eight years in the
first quarter but by a smaller margin than expected.

    
    The following table shows rates for Asian currencies against
the dollar at 0445 GMT.
    CURRENCIES VS U.S. DOLLAR
    
 Currency               Latest bid  Previous day  Pct Move
 Japan yen              107.120     107.02        -0.09
 Sing dlr               1.426       1.4271        +0.10
 Taiwan dlr             29.916      29.950        +0.11
 Korean won             1232.000    1231          -0.08
 Baht                   32.030      32.1          +0.22
 Peso                   50.850      50.65         -0.39
 Rupiah                 14860.000   14830         -0.20
 Rupee                  75.880      75.56         -0.42
 Ringgit                4.351       4.349         -0.05
 Yuan                   7.109       7.1012        -0.12
                                                  
 Change so far in 2020                            
 Currency               Latest bid  End 2019      Pct Move
 Japan yen              107.120     108.61        +1.39
 Sing dlr               1.426       1.3444        -5.70
 Taiwan dlr             29.916      30.106        +0.64
 Korean won             1232.000    1156.40       -6.14
 Baht                   32.030      29.91         -6.62
 Peso                   50.850      50.65         -0.39
 Rupiah                 14860.000   13880         -6.59
 Rupee                  75.880      71.38         -5.93
 Ringgit                4.351       4.0890        -6.02
 Yuan                   7.109       6.9632        -2.06
 

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Subhranshu
Sahu)
  
 
 
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below