* 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 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
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
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,
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)