December 28, 2017 / 5:47 AM / 6 months ago

EM ASIA FX-Most Asian currencies up; S. Korean won hits over 2-yr high

 (Adds details, updates prices)
    By Susan Mathew
    Dec 28 (Reuters) - The South Korean won climbed to a more
than 2-year high in its last trading day of the year, as the
dollar fell on lower U.S. bond yields, while most other Asian
currencies rallied on Thursday. 
    The greenback touched its lowest in more than three weeks,
with the dollar index, that pits the U.S. currency
against six major rivals, down 0.2 pct as of 0450 GMT.
     The U.S. 10-year Treasury yield came off
nine-month highs as investors rebalanced portfolios before
    Christopher Wong, an FX strategist with Maybank, said
besides the fall in the dollar, the "bigger thematic remains one
of seeking for carry-trades as synchronous global economic
recovery looks poised to be sustained into first half of 2018."
    The Thai baht THB-=TH led the gainers with a 0.5 percent
increase after the country's industrial output in November beat
    The Chinese yuan gained 0.2 percent, snapping two
straight losing days, helped by its central bank lifting the
official yuan midpoint to a fresh 3-1/2-month high.

    The Taiwan dollar rose 0.4 percent to a more than 
three-year high, while the Indian rupee fell to its
lowest in over one week.
    The South Korean won rose 0.2 percent, marking
its highest since April 2015. It was on track to post the best
yearly gain since 2004 and is poised to end 2017 as the best
performing regional currency.
    Higher stock inflows pushed the won up, said Maybank's Wong.
The KOSPI index rose 0.9 percent.
    South Korean markets are closed on Friday. 
    The Philippine peso hit over six-month highs in
what could be its sixth straight gaining session.
    It is a "combination of positive fundamental factors for the
peso, namely, optimism regarding the passage of the tax plan,
better-than-expected data of late, and strong seasonal inflows,"
said Jason Manalac, a trader at Philippine Bank of
    Data on Tuesday showed that the country posted a narrower
buget deficit for November. This came after the Philippine
Congress passed a long-awaited tax reform plan, a ratings
upgrade by Fitch, and forecasts of faster economic growth by the
World Bank.
 Change on day as of 0450 GMT                       
 Currency                 Latest bid  Previous day  Pct Move
 Japan yen                113.03      113.34        +0.27
 Sing dlr                 1.3389      1.3396        +0.05
 Taiwan dlr               29.828      29.940        +0.38
 Korean won               1072        1074.1        +0.20
 Baht                     32.620      32.78         +0.49
 Peso                     49.930      50.04         +0.22
 Rupiah                   13558       13559         +0.01
 Rupee                    64.18       64.15         -0.05
 Ringgit                  4.075       4.081         +0.15
 Yuan                     6.545       6.5570        +0.18
 Change so far in 2017                              
 Currency                 Latest bid  End 2016      Pct Move
 Japan yen                113.03      117.07        +3.57
 Sing dlr                 1.3389      1.4490        +8.22
 Taiwan dlr               29.828      32.279        +8.22
 Korean won               1072        1207.70       +12.66
 Baht                     32.620      35.80         +9.75
 Peso                     49.930      49.72         -0.42
 Rupiah                   13558       13470         -0.65
 Rupee                    64.180      67.92         +5.83
 Ringgit                  4.075       4.4845        +10.05
 Yuan                     6.545       6.9467        +6.13

 (Reporting by Susan Mathew in Bengaluru; Editing by Biju
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