EM ASIA FX-Asian currencies softer as dollar firms; yuan dips on GDP

(Adds details, updates prices)

By Ambar Warrick

Oct 19 (Reuters) - Asian currencies softened against the

dollar on Thursday as the greenback firmed overnight, while the

yuan retreated after data showed China's economic growth eased

in the third quarter.

The dollar hit its highest in about two weeks versus the yen

on Thursday, with the near-term focus on U.S. President Donald

Trump's decision on the next chair of the Federal Reserve.

Investors are also worried about whether Republican leaders

can must enough votes from their own members to pass a tax

reform bill which is crucial to the president's agenda.

"Asian currencies are generally softer against the dollar,

probably on optimism that the U.S. tax reforms would be passed,

and also because there's increased speculation that the next Fed

chief could be someone more hawkish," said Chang Wei Liang, FX

strategist at Mizuho Bank in Singapore.

The yuan was on track for its fourth consecutive

session of declines against the dollar.

China's economic growth slowed slightly in the third quarter

to 6.8 percent as the government's efforts to rein in property

market and debt risks tempered activity in the world's

second-largest economy.

While that reading was in line with economists' forecasts,

some investors had expected a stronger number after central bank

governor Zhou Xiaochuan said at the weekend that growth may hit

7 percent in the second half of this year.

The Taiwan dollar also edged lower against the

dollar, while the Indonesian rupiah followed suit.

The Indonesian Central Bank, which surprised the market with

cuts at its last two policy meetings, is expected to keep

interest rates unchanged in its meeting later in the global day,

according to a Reuters poll.

The Indian rupee did not trade as markets were

closed for a public holiday.

CHINESE YUAN

The yuan fell as the People's Bank of China set the offical

yuan mid-point at 6.6093 to the dollar, compared to

the currency's previous close of 6.6271.

"Since the (GDP) numbers are largely in line with consensus,

I don't expect much change. Hence, the direction of the dollar

is expected to play a bigger role for now," said Tariq Ali,

investment strategist at Standard Chartered Bank.

SOUTH KOREAN WON

The South Korean won fell to a 1-week low against

the dollar on Thursday, as the country's central bank kept

interest rates steady, as expected.

The central bank however, upgraded its growth outlook and

took a bullish view on the economy, boosting chances of a rate

hike in the coming months.

"External factors probably play a bigger role in determining

the outlook of the won...most of the positives seen in 2017

appear to be priced-in for now and it seems that we have already

seen the high for the KRW this year," Ali said.

The following table shows rates for Asian currencies against

the dollar as of 0506 GMT.

CURRENCIES VS U.S. DOLLAR

Change on the day as of

0506 GMT

Currency Latest bid Previous Pct Move

day

Japan yen 112.980 112.92 -0.05

Sing dlr 1.359 1.3565 -0.16

Taiwan dlr 30.228 30.200 -0.09

Korean won 1132.800 1129.9 -0.26

Baht 33.140 33.14 +0.00

Peso 51.480 51.405 -0.15

Rupiah 13523.000 13515 -0.06

Ringgit 4.225 4.222 -0.07

Yuan 6.632 6.6271 -0.07

Change so far in 2017

Currency Latest bid End 2016 Pct Move

Japan yen 112.980 117.07 +3.62

Sing dlr 1.359 1.4490 +6.65

Taiwan dlr 30.228 32.279 +6.79

Korean won 1132.800 1207.70 +6.61

Baht 33.140 35.80 +8.03

Peso 51.480 49.72 -3.42

Rupiah 13523.000 13470 -0.39

Ringgit 4.225 4.4845 +6.14

Yuan 6.632 6.9467 +4.75

(Reporting by Ambar Warrick in Bengaluru; Editing by Kim

Coghill)