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EM ASIA FX-Won leads Asia FX gains on solid regional stocks; Fed, U.S. data in focus
July 29, 2014 / 8:13 AM / 3 years ago

EM ASIA FX-Won leads Asia FX gains on solid regional stocks; Fed, U.S. data in focus

(Updates prices. For midday report, double-click
 )
    SINGAPORE, July 29 (Reuters) - Most emerging Asian
currencies advanced on Tuesday as regional stocks touched fresh
three-year highs, while caution grew before a slew of U.S.
economic data and the Federal Reserve's policy meeting this
week.
    The South Korean won led gains as continuous
foreign buying powered Seoul shares to their highest
since August 2011. Local exporters bought the currency for
month-end settlements.
    The Taiwan dollar rose to its strongest since July
14 on stock inflows and demand from exporters.
    Financial markets in many Asian countries - India,
Indonesia, Malaysia and the Philippines - were closed to mark
the end of Ramadan, the Muslim fasting month.
    Asian shares rose as a rally in Chinese markets encouraged
investors in the region. 
    Investors kept an eye on the Fed's two-day policy review
starting later in the day. The U.S. central bank is widely
expected to cut its monthly bond-buying programme by another $10
billion, but the focus is on any clues to the timing of the
first interest rate hike. 
    
    CURRENCIES VS U.S. DOLLAR
    Change on the day at 0800 GMT
  Currency    Latest bid   Previous day    Pct Move
  Japan yen       101.88         101.86       -0.02
  Sing dlr        1.2413         1.2418       +0.04
  Taiwan dlr      29.995         30.037       +0.14
  Korean won     1024.80        1026.30       +0.15
  Baht             31.81          31.80       -0.03
 *Peso             43.36          43.36       +0.00
 *Rupiah        11575.00       11575.00       +0.00
 *Rupee            60.13          60.13       +0.00
 *Ringgit         3.1730         3.1745       +0.05
  Yuan            6.1802         6.1863       +0.10
 
  Change so far in 2014
  Currency    Latest bid  End prev year    Pct Move
  Japan yen       101.88         105.28       +3.33
  Sing dlr        1.2413         1.2632       +1.76
  Taiwan dlr      29.995         29.950       -0.15
  Korean won     1024.80        1055.40       +2.99
  Baht             31.81          32.86       +3.30
  Peso             43.36          44.40       +2.39
  Rupiah        11575.00       12160.00       +5.05
  Rupee            60.13          61.80       +2.79
  Ringgit         3.1730         3.2755       +3.23
  Yuan            6.1802         6.0539       -2.04
 * Financial markets in India, Indonesia, Malaysia and
Philippines were closed for holidays.

 (Reporting by Jongwoo Cheon; Editing by Jacqueline Wong)

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