* Thai baht leads gains
* Indian rupee dips slightly ahead of inflation data
* Malaysia c. bank says 'ample room' for rate cut
(Adds text, updates prices)
By Shriya Ramakrishnan
Feb 12 (Reuters) - Currencies of export-focused Asian
countries notched gains against the dollar on Wednesday, as a
slowdown in the pace of new coronavirus infections fuelled hopes
that the worst of the epidemic might be over.
China on Wednesday reported its lowest number of new
coronavirus cases since late January, lending credence to a
prediction from the country's senior medical adviser that the
outbreak could be over by April. An uptick in U.S. yields, as bond prices fell, and the
accompanying rise in global equities suggested a slow return to
higher investor risk appetites, with the dollar losing ground
against Asian currencies. US/ USD/
"It is important that we see containment efforts
materialising into actual containment of the virus - new cases
continue to slow, while recovery rises and outside-China spread
is contained," Christopher Wong, a senior FX strategist at
Maybank Singapore said.
The Thai baht THB=TH strengthened 0.5% to 31.11 against
the greenback, while the Chinese yuan CNY=CFXS edged up.
The baht is the worst performing emerging Asian currency
this year - a reversal from its position as Asia's best
performing currency last year and in 2018 - as the virus
outbreak hurts Thailand's lucrative tourism sector.
The South Korean won KRW=KFTC advanced 0.3%, while the
Taiwan dollar TWD=TP also gained 0.3% to its strongest level
in more than three weeks.
The Malaysian ringgit MYR= erased early gains to edge down
0.1%.
Malaysia's central bank said on Wednesday there was "ample
room" for a rate cut after economic growth slowed to the weakest
in a decade in the fourth quarter and the coronavirus outbreak
threatened to pile more pressure this year. The Indian rupee INR= inched lower, ahead of the release
of inflation data later in the day. Inflation is expected to
rise to a near six-year peak in January as food prices stayed
high, according to a Reuters poll. The Indonesian rupiah IDR= traded little changed, while
the Philippine peso PHP= dipped slightly.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0545 GMT
Currency Latest bid Previous day Pct Move
Japan yen 109.850 109.77 -0.07
Sing dlr 1.385 1.3861 +0.09
Taiwan dlr 29.973 30.068 +0.32
Korean won 1177.600 1181.6 +0.34
Baht 31.110 31.275 +0.53
Peso 50.510 50.5 -0.02
Rupiah 13655.000 13660 +0.04
Rupee 71.240 71.23 -0.01
Ringgit 4.135 4.131 -0.10
Yuan 6.960 6.9660 +0.08
Change so far in 2020
Currency Latest bid End 2019 Pct Move
Japan yen 109.850 108.61 -1.13
Sing dlr 1.385 1.3444 -2.92
Taiwan dlr 29.973 30.106 +0.44
Korean won 1177.600 1156.40 -1.80
Baht 31.110 29.91 -3.86
Peso 50.510 50.65 +0.28
Rupiah 13655.000 13880 +1.65
Rupee 71.240 71.38 +0.20
Ringgit 4.135 4.0890 -1.11