| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
advertisement | ||
Wednesday July 2, 11:20 AMEmerging FX-Asia mostly down on inflation jittersSINGAPORE, July 2 (Reuters) - Most Asian currencies fell on Wednesday, with the Philippine peso hitting a nine-month low, on fears that inflationary pressures in the region would significantly impair growth.Currencies also weakened as the U.S. dollar inched up against other major currencies, supported by data from the Institute for Supply Management that showed U.S. factory activity unexpectedly expanded in June after four months of contraction. [nN015205] The South Korean won led losses in the region, a day after data showing inflation in South Korea and Thailand at its highest in a decade. The won fell briefly by half a percent to 1,052.7 against the dollar, close to a five-week low hit on Tuesday. However, the Thai baht bucked the trend and rose by a tenth of a percent to 33.39 per dollar, as markets in Thailand reopened after a one-day holiday. Data on Tuesday showed Thai inflation jumped to 8.9 percent in June. Traders said the central bank had not been in the market, but they expected the authorities to support the baht in order to fight inflation. Other currencies were range-bound as investors avoided risky bets ahead of monetary policy meetings in Indonesia and the euro zone. The Philippine peso extended this week's losses and slid by 0.3 percent to 45.15 per dollar, its lowest since October 2007. The Malaysian ringgit fell by a similar margin to 3.28 per dollar. "The market is a bit jittery after foreign banks bought dollars," a trader in Kuala Lumpur said. CURRENCIES VS U.S. DOLLAR Change on the day at 0232 GMT Currency Latest bid Previous day Pct Move Japan yen 105.94 105.80 -0.13 Sing dlr 1.3612 1.3623 +0.08 Taiwan dlr 30.374 30.360 -0.05 Korean won 1047.75 1047.00 -0.07 Baht 33.35 33.43 +0.24 Peso 45.11 45.01 -0.22 Rupiah 9225.00 9215.00 -0.11 Rupee 43.33 43.33 +0.00 Ringgit 3.2735 3.2640 -0.29 Yuan 6.8586 6.8561 -0.04 Change so far in 2008 Currency Latest bid End prev year Pct Move Japan yen 105.94 111.33 +5.09 Sing dlr 1.3612 1.4382 +5.66 Taiwan dlr 30.374 32.443 +6.81 Korean won 1047.75 935.70 -10.69 Baht 33.35 33.68 +0.99 Peso 44.45 41.28 -7.13 Rupiah 9225.00 9390.00 +1.79 Rupee 43.33 39.41 -9.05 Ringgit 3.2735 3.3050 +0.96 Yuan 6.8586 7.3041 +6.50 (Reporting by Melissa Chia; Editing by Alan Raybould) |
|||
|
Copyright © 2005 Reuters Limited. All rights reserved. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of Reuters Limited
|