Most Asian units advance

Most emerging Asian currencies strengthened against a weaker dollar on Tuesday, on expectations that the US Federal Reserve will confirm a dovish stance, amid slowing global growth, at a policy meeting beginning later in the day. The Fed, which raised rates four times last year, is widely expected to keep its benchmark overnight interest rate unchanged and stick to a pledge of a "patient" approach to any further hikes.
The dollar index, which measures the greenback against a basket of six major currencies, hovered close to a two-week low at 96.495.
The Korean won appreciated 0.1 percent to 11,321.1 against the dollar.
The Philippine peso, which weakened last week after the 2019 growth forecast was reduced and the new central bank governor flagged the possibility of cuts in the amount of cash banks must hold as reserves, slipped 0.2 percent against the dollar.
"With monetary easing expected to accelerate (to boost growth) and thus interest rate support to be weaker, markets now see greater downside risks to the PHP," DBS said on Tuesday.
The Taiwan dollar shed 0.2 percent before paring losses.
The island's export orders, considered a leading indicator of demand for Asia's exports and hi-tech gadgets, are expected to have contracted for a fourth straight month in February, a Reuters poll showed. Data is due at 0800 GMT.
The Indian rupee, which has strengthened the past six sessions, firmed as much as 0.3 percent against the dollar, touching its highest point since Aug. 2, before the day's gains were erased.
The rupee has generally appreciated the past few weeks, in line with foreign inflows into Indian equities and debt markets amid expectations that Prime Minister Narendra Modi and the ruling Bharatiya Janata Party will be re-elected in coming elections.
The Thai baht gained 0.1 percent to 31.68 against the dollar, ahead of a central bank policy meeting on Wednesday.
The Bank of Thailand is expected to keep its benchmark policy rate steady for a second straight review after a hike in December, in a bid to support a slowing economy.
In a note, Mizuho Bank said March 24 general elections "could bring the country's extant polarization of political views into relief again. The baht has now priced in a political risk premium amidst renewed tensions." The election will be the first since a military coup in 2014.