EM ASIA FX-Fed rate hike bets hurt Asia FX, Singapore dlr 1-month low after CPI

* Singapore April CPI drops most since late 2009

* Singapore dollar seen supported at 1.3451/U.S. dollar

* Baht slides on U.S. dollar-short covering

(Adds text, updates prices)

By Jongwoo Cheon

SEOUL, May 25 (Reuters) - Most emerging Asian currencies

slid on Monday as rising U.S. inflation and hawkish remarks by

Federal Reserve Chair Janet Yellen revived expectations of a

U.S. interest rate hike in the second half, cutting the appeal

of the region's higher yields.

The Singapore dollar hit a one-month low after data

showing the city-state's consumer price fell the most since late

2009.

Thailand's baht declined as investors took profits

from the best-performing Asian currency last week. Malaysia's

ringgit fell on dollar demand linked daily fixing in

thin trading.

The Indonesian rupiah eased on dollar bids from

importers for month-end payments.

The U.S. dollar rose to a near one-month high against

a basket of six major currencies after data showed on Friday

that the core U.S. CPI increased 0.3 percent in April, the

largest rise since January 2013.

Yellen also said on Friday she expected the Fed to raise

interest rates this year as the U.S. economy was on course to

bounce back from a sluggish first quarter.

Higher U.S. borrowing costs usually undermine attractiveness

of higher yields in emerging Asia.

"Emerging Asian FX is expected to stay soft," said

Christopher Wong, a senior currency analyst at Maybank in

Singapore.

"U.S. economic recovery remains intact and we maintain our

house view for the first rate hike to begin in September."

Recent weak U.S. economic data had spurred some doubts over

an early rate increase by the Fed and supported emerging Asian

currencies.

SINGAPORE DOLLAR

The Singapore dollar fell as much as 0.4 percent to 1.3421

against the U.S. dollar, its weakest since April 24.

The city-state's consumer inflation in April fell 0.5

percent from a year earlier, the largest drop since December

2009 and a sixth consecutive decline.

The currency pared some of losses as the central bank

maintained its forecasts for this year's headline and core

inflation.

Westpac senior FX strategist Jonathan Cavenagh did not see

risks of another surprise policy easing in the near term before

the Monetary Authority of Singapore's next policy review in

October.

"Growth probably needs to roll back over. The MAS said

inflation could ease further before rebounding in the second

half," Cavenagh said.

Singapore's economy is forecast to have expanded more than

initially estimated in the first quarter, a Reuters poll showed,

after exports surged in March and industrial production held up

better than expected. Detailed growth data is due on Tuesday.

The Singapore dollar is also seen having a chart support at

1.3451, the 38.2 percent Fibonacci retracement of its

appreciation from March to April, analysts said.

BAHT

The baht fell as investors cut long positions in the best

performing Asian currency last week.

The Thai currency rose 0.6 percent against the dollar last

week when most of its regional peers fell, according to Thomson

Reuters data.

Foreign investors last week bought Thai stocks and bonds

amid expectations that the central bank would cut interest rates

further.

An auction of 20 billion baht ($596.30 million) of 28-day

treasury bills fetched an average accepted yield of 1.49521

percent, slightly higher than the previous ones.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0625 GMT

Currency Latest bid Previous day Pct Move

Japan yen 121.62 121.55 -0.06

Sing dlr 1.3416 1.3365 -0.38

Taiwan dlr 30.506 30.541 +0.11

*Korean won 1090.10 1090.10 0.00

Baht 33.55 33.34 -0.63

Peso 44.60 44.55 -0.12

Rupiah 13182.00 13150.00 -0.24

Rupee 63.62 63.52 -0.16

Ringgit 3.6075 3.5850 -0.62

Yuan 6.2012 6.1976 -0.06

Change so far in 2015

Currency Latest bid End prev year Pct Move

Japan yen 121.62 119.66 -1.62

Sing dlr 1.3416 1.3260 -1.16

Taiwan dlr 30.506 31.718 +3.97

Korean won 1090.10 1099.30 +0.84

Baht 33.55 32.90 -1.94

Peso 44.60 44.72 +0.27

Rupiah 13182.00 12380.00 -6.08

Rupee 63.62 63.03 -0.93

Ringgit 3.6075 3.4965 -3.08

Yuan 6.2012 6.2040 +0.05

($1 = 33.5400 baht)

* Financial markets in South Korea are closed for a holiday.

(Additional reporting by Satawasin Staporncharnchai in BANGKOK;

Editing by Richard Borsuk)