EM ASIA FX-Rupiah leads Asia FX weakness in holiday-thinned trade
* Rupiah down on importers' dollar bids
* Ringgit tracks weaker NDFs, 200-day average may support
(Adds text, updates prices)
By Jongwoo Cheon
SINGAPORE, April 21 (Reuters) - Most emerging Asian
currencies eased on Monday as the dollar stayed firm after
upbeat U.S. economic data and on caution over tensions in
Ukraine, while trading in the region was subdued with some
global markets still closed for the Easter holiday.
The Indonesian rupiah underperformed regional units
on month-end corporate dollar demand, traders said.
The dollar rose against a basket of six major
currencies after U.S. data showing new claims for benefits
stayed around their pre-recession levels last week and
manufacturing in the Mid-Atlantic region accelerated in April.
Asian shares edged lower amid sustained tensions in Ukraine.
At least three people were killed in a gunfight in the early
hours of Sunday near a Ukrainian city controlled by pro-Russian
separatists.
Still, some analysts said emerging Asian currencies are
unlikely to extend their declines much as regional exports may
benefit from strength in the U.S. economy.
"It may be good to add emerging Asian currencies positions
little by little on dips," said Yuna Park, a currency and bond
analyst at Dongbu Securities in Seoul.
"Sentiment on emerging markets is reviving and I don't see
strong momentum for the dollar."
RUPIAH
The rupiah eased on dollar demand from local importers for
month-end payments, traders said.
The official Jakarta Interbank Spot Dollar Rate (JISDOR),
which Indonesia's central bank launched last year in an effort
to manage exchange rate fluctuations, was fixed at 11,430 rupiah
per dollar, weaker than the previous session's 11,418.
Currency investors almost ignored the central bank's
expectations that inflation in April may slow down to a 7.2
percent rise year-on-year.
RINGGIT
The ringgit fell in thin trading, tracking its weakness in
non-deliverable forwards.
Higher U.S. Treasury yields after healthy U.S. data may put
further pressure on the ringgit, but it may find support around
a 200-day moving average at 3.2506 per dollar, traders said.
A senior Malaysian bank trader in Kuala Lumpur said he would
add short ringgit positions only when the ringgit weakens past
3.2600.
"There is no more risk aversion now. Ukraine is history,"
said the trader.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0435 GMT
Currency Latest bid Previous day Pct Move
Japan yen 102.55 102.45 -0.10
Sing dlr 1.2520 1.2529 +0.07
Taiwan dlr 30.230 30.230 +0.00
Korean won 1037.80 1037.40 -0.04
Baht 32.23 32.18 -0.16
Peso 44.42 44.43 +0.03
Rupiah 11437.00 11415.00 -0.19
Rupee 60.36 60.29 -0.12
Ringgit 3.2465 3.2405 -0.18
Yuan 6.2253 6.2242 -0.02
Change so far in 2014
Currency Latest bid End prev year Pct Move
Japan yen 102.55 105.28 +2.66
Sing dlr 1.2520 1.2632 +0.89
Taiwan dlr 30.230 29.950 -0.93
Korean won 1037.80 1055.40 +1.70
Baht 32.23 32.86 +1.95
Peso 44.42 44.40 -0.05
Rupiah 11437.00 12160.00 +6.32
Rupee 60.36 61.80 +2.38
Ringgit 3.2465 3.2755 +0.89
Yuan 6.2253 6.0539 -2.75
(Editing by Chris Gallagher)