(Add details, updates prices)
By Ambar Warrick
June 1 Many Asian currencies barely moved on
Thursday, ahead of United States payroll data, except for
China's yuan, which surged to a near seven-month high with help
from dollar-selling by major state-owned Chinese banks.
"The movement of regional currencies, except the yuan, is a
reflection of the range-bound price action in the dollar," said
Sim Moh Siong, FX strategist at the Bank of Singapore
"Right now, I think the market is waiting for the U.S.
payroll data" due on Friday, he said.
The Malaysian ringgit fell around 0.2 percent to 4.28
to the dollar, its lowest level since May 24. Factory activity
in the commodities-exporting country in May contracted as output
and new orders declined, a private survey showed.
The Thailand baht fell about 0.3 percent to 34.160
against the dollar. Headline consumer prices unexpectedly
dropped in May from a year earlier, their first decline in 14
Thailand's central bank said it will hold a news conference
on foreign exchange regulation reforms on Monday, as policmaers
reamin focussed on tamping down a strong baht.
The Indonesian rupiah did not trade on Thursday, a
Emerging markets have seen increased investor interest of
late, with the region seeing a fourth straight month of net
portfolio inflows above $20 billion from foreign investors in
May, a survey showed Wednesday.
The yuan was up around 0.25 percent to 6.8008
against the dollar, on track for its fourth consecutive session
of gains. Earlier, major state-owned Chinese banks were seen
selling dollars at around the 6.80 per dollar level in
the onshore foreign exchange market.
The dollar selldown comes as a part of China's war on
depreciation expectations, after Moody's Investors Service
downgraded the country's long-term local and foreign currency
issuer ratings last week.
China's central bank on Thursday pushed the reference rate
for the yuan up by 0.8 percent, the midpoint's second largest
one-day appreciation since the currency was de-pegged from the
dollar in 2005. The spot rate soon followed suit.
The Indian rupee gained about 0.1 percent on
On Wednesday, the government announced a slowdown in
economic growth, to 6.1 percent, in the first quarter of 2017
from a year earlier. The rate was 7.0 percent in the previous
CURRENCIES VS U.S. DOLLAR
Change on the day at
Currency Latest bid Previous day Pct Move
Japan yen 110.960 110.75 -0.19
Sing dlr 1.385 1.3831 -0.12
Taiwan dlr 30.095 30.102 +0.02
Korean won 1122.000 1119.5 -0.22
Baht 34.160 34.05 -0.32
Peso 49.800 49.765 -0.07
Rupee 64.475 64.50 +0.04
Ringgit 4.287 4.279 -0.19
Yuan 6.800 6.8170 +0.25
Change so far in
Currency Latest bid End 2016 Pct Move
Japan yen 110.960 117.07 +5.51
Sing dlr 1.385 1.4490 +4.64
Taiwan dlr 30.095 32.279 +7.26
Korean won 1122.000 1207.70 +7.64
Baht 34.160 35.80 +4.80
Peso 49.800 49.72 -0.16
Rupee 64.475 67.92 +5.34
Ringgit 4.287 4.4845 +4.61
Yuan 6.800 6.9467 +2.15
(Reporting by Ambar Warrick in Bengaluru; Editing by Richard