Singapore dollar, won rise

The South Korean won and Singaporean dollar strengthened on Tuesday as their central banks are expected to tighten policy to fight inflation, while the Indonesian rupiah lagged gains on worries that its policymakers aren't acting fast enough to curb price pressure.
The Singapore dollar hit a record high against the US dollar on buying by institutional investors, while exporters scooped up the Korean won. The Singapore dollar hit a record high against the dollar on real money flows and as the local currency is seen relatively safer than other Asian currencies, dealers said. US Dollar/Singapore dollar slid to as low as 1.2764, compared with its previous close of 1.2794.
The won rose 0.4 percent versus the greenback as exporters bought it for settlements before the Lunar New year holidays and as worries about the Egypt unrest slightly eased. The Thai baht and Indonesian rupiah were steady against the dollar after consumer price data. Dollar/rupiah is seen moving between 9,015 and 9,070, analysts said. The Taiwan dollar traded in a narrow range in thin volume, with many players winding down trades on the last trading day before the Lunar New Year holiday.