SINGAPORE: Most emerging Asian currencies eased on Wednesday, pressured by a stronger US dollar and a weaker Chinese yuan, while the South Korean won and the Singapore dollar rose on exporters' demand for month-end settlements.
The Chinese yuan flirted with fresh 18-month lows against the dollar as investors focused on negative news from the property sector as further evidence of a broadening slowdown in the economy.
The Philippine peso hit a near three-week low on dollar bids linked to maturing non-deliverable forwards .
Spot peso pared some of losses as some leveraged funds and interbank speculators covered short positions ahead of the first quarter growth data due on Thursday. The economy is expected to have sustained a strong growth pace in the January-March period, according to a Reuters poll.
Indonesia's rupiah fell on importers' dollar demand for month-end payments.
The Thai baht earlier fell to its weakest since Feb. 19, but recovered much of the losses as the central bank was spotted intervening to curb its weakness, traders said.
The South Korean won, however, rose as exporters chased the currency with the month-end approaching. The foreign exchange authorities were seen limiting its upside, according to traders.
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