EM ASIA FX-Most Asia units slip on trade talk uncertainty; Fed decision eyed

* Thai baht weakens ahead of c. bank policy announcement

* Indian rupee top decliner on the day

* Philippine peso weakens for a third straight session

(Adds text, updates prices)

By Shriya Ramakrishnan

March 20 (Reuters) - Most emerging Asian currencies weakened

fractionally on Wednesday, as investors awaited a U.S. Federal

Reserve policy statement and a media report on Sino-U.S. trade

talks dented sentiment.

Bloomberg reported on Tuesday that U.S. officials were

concerned that China is pushing back against some U.S. demands,

despite President Donald Trump's optimism about reaching a deal.

The report came at a time the two sides, locked in a trade

war, prepare for another round of talks in China next week, the

first since Trump delayed a March 1 deadline to raise tariffs on

$200 billion worth of Chinese imports.

Currency market attention was locked on the Fed statement,

expected early Thursday Asia time.

The Philippine peso weakened 0.1 percent to 52.85 per

dollar.

At its first meeting under newly-appointed chief Benjamin

Diokno, the Philippine central bank is expected to keep rates on

hold on Thursday, a Reuters poll showed. Economists see no rate

change until inflation is firmly within the central bank's

range.

The Singapore dollar, vulnerable to developments on

the Sino-U.S. trade front due to its trade exposure to both

countries, shed 0.1 percent, while the Taiwan dollar

edged higher.

The Indian rupee, which has regained some footing

after depreciating almost 8 percent against the dollar in 2018,

shed 0.2 percent.

The recent rupee appreciation "provides excellent

opportunity for importers to hedge their exposure and so we are

seeing strong dollar buying from importers," Rushabh Maru, a

currency and commodity analyst at Anand Rathi Shares and Stock

Brokers Ltd ,said.

"The election season has begun, so we may see a lot of

volatility," he added. India votes in a general election over

the coming two months.

Reserve Bank of India Governor Shaktikanta Das said on

Tuesday that the central bank's new step to infuse rupees into

the banking system through a dollar/rupee forward buy-sell swap

auction has been well received by the market.

The Thai baht, emerging Asia's top performing

currency this year, depreciated 0.1 percent ahead of a central

bank policy decision on Wednesday.

The Bank of Thailand, which hiked the policy rate in

December for the first time in more than seven years, is

expected to keep rates steady for a second straight review.

Thailand's customs-cleared exports in February may have

dropped 1 percent from a year earlier, according to a Reuters

poll. The data is due on Thursday.

INDONESIAN RUPIAH

The Indonesian rupiah strengthened 0.1 percent to

14,210 against the greenback.

Indonesia's central bank is expected to keep interest rates

unchanged for a fourth straight month on Thursday, despite

inflation falling to its lowest pace in nearly a decade, a

Reuters poll showed.

Bank Indonesia was one of Asia's most aggressive central

banks last year, raising the benchmark rate six times by 175

basis points to counter outflows that put the rupiah under

pressure.

"Markets are somewhat encouraged with Indonesia reporting a

trade surplus last month. It suggests that trade deficit concern

that has weighed on the rupiah is on the verge of being

alleviated to some degree," Chang Wei Liang, a forex strategist

at Mizuho Bank said.

Southeast Asia's largest economy had a surprise trade

surplus in February, the first in five months, as imports

unexpectedly fell sharply.

The following table shows rates for Asian currencies against

the dollar at 0522 GMT.

CURRENCIES VS U.S. DOLLAR

Currency Latest bid Previous day Pct Move

Japan yen 111.590 111.37 -0.20

Sing dlr 1.352 1.3509 -0.10

Taiwan dlr 30.816 30.838 +0.07

Korean won 1130.200 1130.6 +0.04

Baht 31.710 31.67 -0.13

Peso 52.850 52.78 -0.13

Rupiah 14210.000 14225 +0.11

Rupee 69.080 68.97 -0.16

Ringgit 4.075 4.075 +0.00

Yuan 6.714 6.7113 -0.04

Change so far in 2019

Currency Latest bid End 2018 Pct Move

Japan yen 111.590 109.56 -1.82

Sing dlr 1.352 1.3627 +0.77

Taiwan dlr 30.816 30.733 -0.27

Korean won 1130.200 1115.70 -1.28

Baht 31.710 32.55 +2.65

Peso 52.850 52.47 -0.72

Rupiah 14210.000 14375 +1.16

Rupee 69.080 69.77 +1.00

Ringgit 4.075 4.1300 +1.35

Yuan 6.714 6.8730 +2.37

(Reporting by Shriya Ramakrishnan in Bengaluru; Editing by

Richard Borsuk)