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EM ASIA FX- Asian currencies affected by geopolitical risks; won worst hit
April 11, 2017 / 6:25 AM / 5 months ago

EM ASIA FX- Asian currencies affected by geopolitical risks; won worst hit

    * Concerns over N. Korea tensions continue to weigh
    * South Korean won widens losses
    * Taiwan dollar might snap seven-day losing streak

 (Adds details, updates prices)
    By Rushil Dutta
    April 11 (Reuters) - Asian currencies were subdued on
Tuesday as geopolitical risks dampened risk appetites and dented
assets such as regional equities.
    The dollar fell in Asian trading as tensions with North
Korea and Syria weighed on U.S. Treasury yields.
    "The risk-off sentiment is a bit driven by the North Korea
risk. That puts more risk in North Asian economies and economies
reliant on trade," said Sean Yokota,  head of Asia strategy at
Skandinaviska Enskilda Banken.
    China and South Korea agreed on Monday to impose tougher
sanctions on North Korea if it carries out nuclear or long-range
missile tests.
    U.S. President Donald Trump last week pressed Chinese
President Xi Jinping to do more to curb North Korea's nuclear
program. A U.S. Navy strike group is headed towards the Korean
peninsula as a show of force.
    North Korea marks several major anniversaries this month and
often marks such occasions with major tests of military
hardware.
    The South Korean won continued to lose, down 0.39
percent to 1,146.7 against the dollar. The currency fell more
than 1 percent last week.
    The Philippine peso, which saw a strong run the
past two sessions in contrast to the regional trend, see-sawed
after data showed its deficit widening in February. 
    With exports growing at a slower pace and import growth at a
9-month high, trade deficit in February widened to $1.73 billion
from $1.1 billion a year ago.
    Strong capital inflows in the past few sessions have kept
peso buoyant with analysts expecting the prospects of a tax
amnesty plan raising hopes for potential inflows.
    The Taiwan dollar was up marginally in the early
afternoon, presenting a possibility it could break a seven-day
losing streak against the U.S. dollar.
    On Monday, The island dependent on tech exports reported
solid trade data for the first quarter on Monday.
    Exports in the January-March quarter to the two biggest
markets, China and the U.S., were up 22 percent and 7.6 percent,
respectively.
        
     CURRENCIES VS U.S. DOLLAR
 Change on the day at   0611 GMT                        
 Currency                     Latest bid  Previous day  Pct Move
 Japan yen                    110.650     110.93        +0.25
 Sing dlr                     1.405       1.4049        -0.04
 Taiwan dlr                   30.630      30.652        +0.07
 Korean won                   1146.700    1142.2        -0.39
 Baht                         34.596      34.614        +0.05
 Peso                         49.640      49.705        +0.13
 Rupiah                       13285.000   13285         +0.00
 Rupee                        64.560      64.56         -0.01
 Ringgit                      4.433       4.433         +0.00
 Yuan                         6.902       6.9050        +0.05
                                                        
 Change so far                                          
 Currency                     Latest bid  End 2016      Pct Move
 Japan yen                    110.650     117.07        +5.80
 Sing dlr                     1.405       1.4490        +3.10
 Taiwan dlr                   30.630      32.279        +5.38
 Korean won                   1146.700    1207.70       +5.32
 Baht                         34.596      35.80         +3.48
 Peso                         49.640      49.72         +0.16
 Rupiah                       13285.000   13470         +1.39
 Rupee                        64.560      67.92         +5.20
 Ringgit                      4.433       4.4845        +1.16
 Yuan                         6.902       6.9467        +0.65
 
 (Reporting by Rushil Dutta; Additional reporting by Aparajita
Saxena in Bengaluru; Editing by Richard Borsuk)
  
 
 

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