EM ASIA FX-Most Asian currencies rise as dollar slips; trade signals mixed By Reuters


© Reuters. EM ASIA FX-Most Asian currencies rise as dollar slips; trade signals mixed

* Chinese yuan strengthens most

* Sino-U.S. ministerial-level trade talks awaited

* South Korea, Japan to hold talks on Friday (Adds text, updates prices)

By Shreya Mariam Job

Oct 10 (Reuters) – Most Asian currencies firmed on Thursday, as a volatile dollar weakened broadly on mixed signals over the state of trade talks between Washington and Beijing.

Dampened sentiment following suggestions that the Chinese delegation might cut the ministerial-level talks short and leave Washington on Thursday were offset by a Bloomberg report that the United States is weighing a currency pact with China as part of a partial deal. also took note of a New York Times report that Washington will issue licenses allowing some U.S. companies to supply non-sensitive goods to China’s Huawei, as the dollar eased against a basket of major currencies . FRX/

“News of Huawei and the currency pact released together with the strong (yuan) fix, underscores the fact that PBoC (People’s Bank Of China) is (ready) …to give a strong guidance for the CNY as a potential pact with the U.S. could be at hand,” a Maybank note said.

U.S. Federal Reserve meeting minutes released on Wednesday were largely in line with expectations and had little market impact.

The yuan CNY=CFXS strengthened 0.3% and the Singapore dollar firmed 0.2%.

The Philippine peso firmed marginally. Data showed that August exports rose 0.6%, while imports slumped 11.8%, narrowing the country’s August deficit. financial markets were closed for a holiday.

WON SLIPS

The Korean won KRW=KFTC bucked the trend to slip 0.3% ahead of talks with Japan on Friday over tighter export controls from Tokyo. The talks are part of a dispute settlement process through the World Trade Organisation. won is the worst performer among Asian currencies this year.

The prolonged Sino-U.S. trade conflict and the dispute with Japan has dealt a huge blow to South Korea’s trade-reliant economy. In September, exports slumped 11.7%, shrinking for the 10th consecutive month. VS DOLLAR

Change on the day at 0630 GMT

Currency

Latest bid Previous day Pct Move Japan yen

107.530

107.46

-0.07 Sing dlr

1.378

1.3805

+0.16 Korean won

1196.200

1193.1

-0.26 Baht

30.340

30.32

-0.07 Peso

51.660

51.75

+0.17 Rupiah

14145.000 14165

+0.14 Rupee

71.070

71.07

+0.00 Ringgit

4.191

4.1955

+0.11

7.113

7.1315

+0.26

Change so far in 2019

Currency

Latest bid End 2018

Pct Move Japan yen

107.530

109.56

+1.89 Sing dlr

1.378

1.3627

-1.13 Taiwan dlr

30.850

30.733

-0.38 Korean won

1196.200

1115.70

-6.73 Baht

30.340

32.55

+7.28 Peso

51.660

52.47

+1.57 Rupiah

14145.000 14375

+1.63 Rupee

71.070

69.77

-1.83 Ringgit

4.191

4.1300

-1.46 Yuan

7.113

6.8730

-3.37

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