Peaceful Ukraine solution hopes help Asia FX rebound

SINGAPORE: Most emerging Asian currencies turned higher on Tuesday after Russia's president ordered troops in military drills in central and western Russia to return to base, increasing hopes of a peaceful solution in Ukraine.

The Thai baht outperformed regional peers as offshore hedge funds covered short positions.

Malaysia's ringgit rose on demand from oil exporters. The Singapore dollar gained, tracking a stronger euro.

The Indonesian rupiah turned firmer on expectations of inflows to the government's bond auction. The country aims to sell 10 trillion rupiah ($862.9 million) in bonds.

Meanwhile, the South Korean won ended local trade weaker on dollar demand from offshore funds and domestic importers.