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EM ASIA FX-Asian currencies unfazed by summit, attention moves to c.bank meetings

(Adds text, updates prices)

By Patturaja Murugaboopathy

June 12 (Reuters) - Asian currencies moved only marginally

on Tuesday as a historic United States-North Korea summit took

place in Singapore, while investors weighed how to position

themselves for major central bank meetings later this week.

U.S. President Donald Trump said the summit with North

Korean leader Kim Jong Un was "better than anybody could have

expected", and Kim called it "a good prelude to peace."

Analysts said that if the summit had not gone well, that

could have hurt emerging currencies, but most had anticipated a

positive result.

"It seems markets have priced in some of the good results,"

said Qi Gao, FX strategist at Scotiabank.

Saktiandi Supaat, head of FX research at Maybank in

Singapore, said in a report that "Whether the market positivity

can last beyond this week would be dependent on future

negotiations and dynamics of US-China relations."

While most Asian currencies were flat on Tuesday, the South

Korean won inched higher.

Scotiabank's Gao said coming monetary policy statements of

the Federal Reserve and the European Central bank will be more

important for Asian currencies.

The Fed is expected to hike its interest rates for the

second time this year at its policy meeting on Tuesday and

Wednesday. Some analysts believe the Fed will hint at raising

rates a total of four times during 2018.

The ECB, which meets on Thursday, could signal intentions to

start unwinding its massive bond purchasing programme.

Chang Wei Liang, FX strategist at Mizuho Bank, said there is

a growing possibility of a policy shift from the ECB, which

could signal conclusion of its asset purchase programme.

Last week, the ECB's chief economist said it will debate

whether to end bond purchases later this year, a hawkish message

that hit emerging markets.

"There is a high likelihood of FX volatility picking up in

the coming week," Mizuho's Chang said.

The following table shows rates for Asian currencies against

the dollar at 0621 GMT.

CURRENCIES VS U.S. DOLLAR

Change as of 0621 GMT

Currency Latest Previous Pct

bid day Move

Japan yen 110.38 110.02 -0.33

Sing dlr 1.335 1.3347 -0.05

Taiwan dlr 29.866 29.821 -0.15

Korean won 1075.4 1075.2 -0.02

Baht 32.10 32.07 -0.09

Rupee 67.490 67.42 -0.11

Ringgit 3.9870 3.9860 -0.03

Yuan 6.403 6.4047 +0.02

*Indonesia and Philippine

markets are closed for holidays

Change so far in 2018

Currency Latest End 2017 Pct

bid Move

Japan yen 110.380 112.67 +2.07

Sing dlr 1.335 1.3373 +0.14

Taiwan dlr 29.866 29.848 -0.06

Korean won 1075.40 1070.50 -0.46

0

Baht 32.100 32.58 +1.50

Peso 52.940 49.93 -5.69

Rupiah 13925.0 13565 -2.59

00

Rupee 67.490 63.87 -5.36

Ringgit 3.987 4.0440 +1.43

Yuan 6.403 6.5069 +1.62

(

Reporting by Patturaja Murugaboopathy in Bengaluru; Editing by

Richard Borsuk)