(Adds details, updates prices)
By Ambar Warrick
June 2 Asian currencies held mostly steady in
tight range trade against a firmer dollar on Friday, while the
Chinese yuan snapped four straight sessions of gains
as tight offshore liquidity eased.
Investors refrained from making major trades ahead of
non-farm payrolls data from the United States due later on
Friday, which could bolster the odds for an interest rate rise
in June. A solid number will support the outlook for another
rate hike by the year-end, likely in September.
"The U.S. wage data is partially the reason why markets have
been subdued in Asia this morning, as it could cement a rate
hike in June and support the dollar, which would cause Asian
currencies to retreat," said Khoon Goh, head of Asia research at
Australia and New Zealand Banking Group in Singapore.
"There isn't much of a lead for Asian currencies today."
A Reuters poll showed that the United States added about
185,000 jobs in May.
The yuan edged down about 0.1 percent to 6.8142 against the
dollar, but hovered around the near seven-month highs it hit on
Thursday. The currency stands to gain about 0.57 percent this
week, although it traded only for three days.
"The yuan's fixing came in broadly as expected, so there
weren't any strong signals from Chinese authorities to push the
yuan any higher," Goh said. "We're seeing a bit of unwinding in
the strength displayed so far."
The South Korean won rose about 0.12 percent,
while the Taiwan dollar inched 0.03 percent higher.
South Korean and Taiwanese stocks rose on Friday in line with
broader Asia as equities tracked a strong finish on Wall Street
"U.S. equities had a good session overnight, so that might
be translated into equity driven markets like the Korean won and
the Taiwan dollar," Goh said.
U.S. stocks advanced on Thursday after a batch of economic
data suggested the economy was picking up speed.
The Malaysian ringgit rose about 0.18 percent.
Foreign portfolio investors were reported saying they would come
back to Malaysia's markets, six months after many of them
revolted against the central bank's crackdown on the offshore
ringgit trading market.
The ringgit stands to lose about 0.27 percent this week
after gaining for the previous two weeks consecutively.
RUPIAH AND RUPEE
The Indonesia rupiah rose about 0.13 percent on
Friday, while the Indian rupee was 0.1 percent higher.
Indonesia's annual inflation rate climbed again in May to
reach the highest in 14 months, data from the statistics bureau
showed on Friday, but the increase was slightly less than
India's Nifty 50 Index rose as much as 0.6 percent
on Friday to a record high, also clocking its biggest intraday
percentage gain in a week. The country's benchmark BSE index
was also at a record high.
CURRENCIES VS U.S. DOLLAR
Change on the day at
Currency Latest bid Previous day Pct Move
Japan yen 111.610 111.34 -0.24
Sing dlr 1.386 1.3858 +0.01
Taiwan dlr 30.108 30.117 +0.03
Korean won 1120.700 1122 +0.12
Baht 34.160 34.138 -0.06
Peso 49.725 49.75 +0.05
Rupiah 13304.000 13321 +0.13
Rupee 64.403 64.47 +0.10
Ringgit 4.279 4.286 +0.18
Yuan 6.814 6.8062 -0.11
Change so far in
Currency Latest bid End 2016 Pct Move
Japan yen 111.610 117.07 +4.89
Sing dlr 1.386 1.4490 +4.57
Taiwan dlr 30.108 32.279 +7.21
Korean won 1120.700 1207.70 +7.76
Baht 34.160 35.80 +4.80
Peso 49.725 49.72 -0.01
Rupiah 13304.000 13470 +1.25
Rupee 64.403 67.92 +5.46
Ringgit 4.279 4.4845 +4.81
Yuan 6.814 6.9467 +1.95
(Reporting by Ambar Warrick in Bengaluru; Editing by Jacqueline