* Korean won, Taiwan dollar, Singapore dollar edge lower
* Taiwan dollar loses for a seventh straight session
* Philippine peso at its highest since early Feb
(Adds details, updates prices)
By Rushil Dutta
April 10 All Asian currencies besides the
Philippine peso were weaker on Monday as heightened geopolitical
tension weighed on investor sentiment, turning their focus
towards safe assets.
The Korean won, down 0.67 percent, fell for a
fifth straight session and was the biggest loser in the region.
The won, which has weakened on growing concerns over North
Korea's weapons programme, was further dented after a U.S.
official said a U.S. Navy strike group will be moving toward the
Korean peninsula as a show of force.
"The KRW (won) looks susceptible to further losses,
especially if geopolitical tensions escalate," ANZ said in a
The U.S. Navy move comes after the United States last week
struck a Syrian air base in retaliation for a Syrian chemical
weapons attack, triggering a rally in safe haven assets and
pushing up oil prices.
Asian stocks excluding Japan also slipped in
the risk-off environment, falling on Monday for a third
The Taiwan dollar fell for a seventh day against
the dollar, while the Singapore dollar, down 0.23
percent, saw its fifth straight session of losses.
The U.S. dollar, which rose 0.1 percent to a
three-week high, was bolstered by a key U.S. Federal Reserve
official reinforcing the central bank's commitment to raising
Major U.S. indexes, however, closed lower after a key jobs
report on Friday showed the economy only added 98,000 jobs in
March, well below economists' expectation of 180,000.
The Philippine peso bucked the trend by rising on
strong net inflows to the Philippine equity market during the
The peso was up 0.65 percent against the dollar to its
highest since early February.
"The rise of inflows is likely due to temporarily eased
concerns about political instability," said Amy Yuan Zhuang,
Nordea Markets' chief analyst.
"Investors are looking past [President Rodrigo] Duterte's
controversial statements and are instead focusing on what he
might achieve on the economic agenda."
Thousands have died in Duterte's controversial war on drugs
which and his incendiary tirades against some world leaders and
international regulatory bodies have added to uncertainty in the
Philippines' political sphere.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0430 GMT
Currency Latest bid Previous day Pct Move
Japan yen 111.380 111.05 -0.30
Sing dlr 1.407 1.4043 -0.20
Taiwan dlr 30.660 30.601 -0.19
Korean won 1142.100 1134.5 -0.67
Baht 34.649 34.599 -0.14
Peso 49.755 50.08 +0.65
Rupiah 13320.000 13315 -0.04
Rupee 64.423 64.28 -0.22
Ringgit 4.438 4.4335 -0.10
Yuan 6.907 6.9010 -0.08
Change so far
Currency Latest bid End 2016 Pct Move
Japan yen 111.380 117.07 +5.11
Sing dlr 1.407 1.4490 +2.98
Taiwan dlr 30.660 32.279 +5.28
Korean won 1142.100 1207.70 +5.74
Baht 34.649 35.80 +3.32
Peso 49.755 49.72 -0.07
Rupiah 13320.000 13470 +1.13
Rupee 64.423 67.92 +5.43
Ringgit 4.438 4.4845 +1.05
Yuan 6.907 6.9467 +0.58
(Reporting by Rushil Dutta; Additional reporting by Aparajita
Saxena in Bengaluru; Editing by Eric Meijer)