SINGAPORE: Most emerging Asian currencies eased on Tuesday as US Treasury yields lifted the dollar, while the Chinese yuan rose to its strongest level in more than a month after the central bank's firm guidance.
The baht fell as investors covered short positions in the dollar, taking profits from the recent gain in the Thai currency.
Earlier, an independent member of the Thailand central bank's monetary policy member said the benchmark interest rate is "very low" and any further easing before the political situation is stable may do little to help the economy.
The rupiah slid after foreign investors sold the most Indonesian shares in two months on Monday.
The Philippine peso fell in thin trading after data showed only scant growth in April exports.
South Korea's won eased with the foreign exchange authorities suspected of intervening to stem the currency's appreciation, traders said.
The US dollar broadly rose along with higher US Treasury yields after hawkish comments from St. Louis Federal Reserve Bank President James Bullard and Friday's solid US jobs data.
Bullard, who is not a voter this year on monetary policy, said the falling US unemployment rate, together with other encouraging economic data, could prompt him to move forward his view on when interest rates should be raised.
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