* Taiwan dollar firms for fourth straight session
* S.Korean won set for third consecutive weekly gain
* Thai baht strengthens over 7% so far this year
(Adds text, updates prices)
By Shreya Mariam Job
Dec 27 (Reuters) - Most Asian currencies strengthened on
Friday but moved in a tight range, as hopes of the United States
and China signing an interim trade deal early next year boosted
investor sentiment in holiday thinned trade.
China said on Thursday that Beijing and Washington were in
close contact on the signing of the "Phase 1" trade deal, which
came after U.S. President Donald Trump's indication of a
ceremony for the signing.
Firming the most in the region, the Taiwan dollar TWD=TP
strengthened for a fourth straight session propped up by
portfolio inflows.
The sentiment was driven partly by growth prospects of the
economy and potential demand for 5G equipments, said Gao Qi,
forex strategist (EM Asia) at Scotiabank.
Last month, Taiwan had raised its growth outlook and said
that recovering demand for electronics due to new technologies,
including fifth-generation telecommunications (5G), would boost
Taiwan's exports in 2020. Meanwhile, the Philippine peso PHP= lost most of its gains
in the previous session, weakening 0.2%.
Trade reliant South Korea's currency KRW=KFTC firmed about
0.2% but was set to post its third consecutive weekly gain.
The South Korean won is the worst performing currency so far
this year among its Asian peers, wounded by a drawn out
Sino-U.S. trade war.
The Thai baht THB=TH , on the other hand, has strengthened
nearly 7.4% during the same period and firmed about 0.1% on the
day.
While the trade reliant South Korean economy fumbled amid
the volatile trade tensions between the world's two biggest
economies, the Thai baht benefited from safe-haven flows into
the attractive low but stable yielding Thai assets.
The fallout from the trade war has however weighed on the
growth of both of these Asian economies. CURRENCIES VS U.S. DOLLAR
Change on the day at 0520 GMT
Currency Latest bid Previous day Pct Move
Japan yen 109.470 109.63 +0.15
Sing dlr 1.354 1.3539 +0.01
Taiwan dlr 30.103 30.201 +0.33
Korean won 1160.300 1161.8 +0.13
Baht 30.140 30.16 +0.07
Peso 50.790 50.7 -0.18
Rupiah 13942.000 13950 +0.06
Rupee 71.265 71.31 +0.06
Ringgit 4.129 4.131 +0.05
Yuan 6.999 6.9980 -0.01
Change so far in 2019
Currency Latest bid End 2018 Pct Move
Japan yen 109.470 109.56 +0.08
Sing dlr 1.354 1.3627 +0.66
Taiwan dlr 30.103 30.733 +2.09
Korean won 1160.300 1115.70 -3.84
Baht 30.140 32.55 +8.00
Peso 50.790 52.47 +3.31
Rupiah 13942.000 14375 +3.11
Rupee 71.265 69.77 -2.10
Ringgit 4.129 4.1300 +0.02
Yuan 6.999 6.8730 -1.80
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