SINGAPORE: The Philippine peso led gains among emerging Asian currencies on Tuesday as regional units recovered after the US Federal Reserve said it was in no hurry to taper its monetary stimulus.
The peso rose amid lower government bond yields with data showing October inflation at a slower-than-expected 2.9 percent.
The Philippine 10-year bond yield fell 7 basis points to 3.565 percent, its lowest since Aug. 15. Five-year yield slid to 3.013 percent from the previous session's 3.154 percent.
The South Korean won gained on exporters' demand for settlements, while foreign financial institutions lifted the Taiwan dollar.
The Thai baht recovered after an early loss, thanks to a rebound in local stocks. The baht initially fell on concern over political tensions.
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