* Indonesian rupiah weaker ahead of cenbank meeting on
Tuesday
* Singapore dlr gains as April export data beats
expectations
* Indian rupee falls after lockdown extension
(Adds text, updates prices)
By Rashmi Ashok
May 18 (Reuters) - Most Asian currencies lost ground on
Monday as rising Sino-U.S. trade fiction cast a cloud over
investor sentiment, while better-than-expected data lent some
support to the Singapore dollar and the Thai baht.
Investors stayed away from big bets and waited for further
details on trade talks between the world's two top economies,
after U.S. President Donald Trump on Friday said he was not
"thrilled" with the Phase-1 deal reached in January.
The White House's top economic adviser said the deal had not
been abandoned and that talks were continuing between both
nations, but markets still remained wary. Furthermore, U.S. Federal Reserve Chairman Jerome Powell
sounded a note of caution on Sunday, saying a U.S. economic
recovery may stretch deep into next year and a full comeback may
hinge on finding a coronavirus vaccine. The Chinese yuan CNY=CFXS eased 0.1% to 7.109 against the
dollar, while the trade-sensitive South Korean won KRW=KFTC
also fell by the same margin.
The offshore Philippine peso PHP= fell nearly 0.5%,
extending losses of nearly 1% it suffered towards the end of
last week.
The Indian rupee INR=IN slipped 0.4% after a nationwide
lockdown was extended until May 31 as cases of the novel
coronavirus exceeded 90,000, amid clashes between police and
stranded migrant workers over curbs. The Indonesian rupiah IDR=ID traded a shade weaker ahead
of a central bank meeting on Tuesday where rates are expected to
be cut for the third time this year in a bid to boost a sagging
economy, according to a Reuters poll. Meanwhile, the Singapore dollar SGD= ticked higher,
supported by data that showed the country's annual exports rose
for the third straight month in April, boosted by a sharp rise
in pharmaceutical shipments. Non-oil domestic exports rose 9.7% from last year, beating a
forecast of a 5% decline in a Reuters poll.
The Thai baht THB=TH inched higher after data showed the
economy contracted at its sharpest pace in eight years in the
first quarter but by a smaller margin than expected.
following table shows rates for Asian currencies against
the dollar at 0445 GMT.
CURRENCIES VS U.S. DOLLAR
Currency Latest bid Previous day Pct Move
Japan yen 107.120 107.02 -0.09
Sing dlr 1.426 1.4271 +0.10
Taiwan dlr 29.916 29.950 +0.11
Korean won 1232.000 1231 -0.08
Baht 32.030 32.1 +0.22
Peso 50.850 50.65 -0.39
Rupiah 14860.000 14830 -0.20
Rupee 75.880 75.56 -0.42
Ringgit 4.351 4.349 -0.05
Yuan 7.109 7.1012 -0.12
Change so far in 2020
Currency Latest bid End 2019 Pct Move
Japan yen 107.120 108.61 +1.39
Sing dlr 1.426 1.3444 -5.70
Taiwan dlr 29.916 30.106 +0.64
Korean won 1232.000 1156.40 -6.14
Baht 32.030 29.91 -6.62
Peso 50.850 50.65 -0.39
Rupiah 14860.000 13880 -6.59
Rupee 75.880 71.38 -5.93
Ringgit 4.351 4.0890 -6.02
Yuan 7.109 6.9632 -2.06