The South Korean won and Singapore dollar also weakened, approaching key support levels. Spanish and Italian yields soared on Tuesday and France followed suit, underscoring the urgency of resolving the debt crisis, hurting sentiment in the region. "Asian currencies look really weak at the moment. I will stay away from them for the time being," said a European bank dealer in Singapore. "I will buy only when I see some positive news flows like Italian bond yields of below 7 percent. But it will be short-term trades," the dealer said. The ringgit weakened past a strong support at 3.1600 per dollar as interbank speculators covered dollar-short positions. It may head to 3.1724, the 76.4 percent retracement of its appreciation in October as a Kuala Lumpur-based dealer said some players were still seen holding such short positions. The South Korean won entered a support zone between 1,135 and 1,140 versus the greenback, while the area is seen strong support. Traders expected exporters to sell dollars on rallies. "I don't understand why people add long (dollar/won) positions above 1,130. We still have trade surplus, while foreigners are not dumping stocks or bonds. Without the euro zone worries, the pair has few reasons to rise," said a senior foreign bank dealer in Seoul. The Singapore dollar slid to as soft as 1.2982 versus the greenback, but the local dollar is seen having strong support around 1.2980-1.3000. It has the 76.4 percent retracement at 1.3008 of its October strengthening.