SINGAPORE: The Chinese yuan hit a 4-1/2-month high on Wednesday, crossing the central bank's daily midpoint for the first time since March, even as other emerging Asian currencies slid on solid US economic data and tensions over Ukraine.
The renminbi's strength indicated that traders may be preparing the ground for robust gains in the second half.
Most regional currencies slid as the dollar stayed around an 11-month high against a basket of six-major currencies after data showed US services sector activity hit an 8-1/2-year high last month and factory orders surged in June.
South Korea's won fell on its overnight weakness in non-deliverable forwards markets and as foreign investors dumped government bond futures.
The Philippine peso skidded on capital outflows and corporate dollar demand.
The Indonesian rupiah fell with local stocks and bond prices down.
The country's losing presidential candidate Prabowo Subianto launched a last-gasp attempt to overturn the official election result, telling the nation's highest court last month's vote was tainted by "massive" fraud.
The Malaysian ringgit eased on disappointing June trade data.
The ringgit recovered some of its earlier losses, helped by the yuan's strength.
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