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EM ASIA FX-Most Asian currencies climb ahead of US-North Korea summit

(Adds text, updates prices)

By Patturaja Murugaboopathy

June 11 (Reuters) - Most emerging Asian currencies edged

higher on Monday ahead of a U.S.-North Korea summit that might

ease regional tensions, while traders also focus on key central

bank meetings later this week.

U.S. President Donald Trump and North Korean leader Kim Jong

Un will have an unprecedented meeting on Tuesday in Singapore,

possibly laying the groundwork for ending a nuclear stand-off

between the old foes.

The South Korean won and the Indian rupee

both about a quarter percent each, while the Singapore

dollar and Thai baht also advanced.

"The market is probably a bit too positive, thinking

everything will go great," said Stephen Innes, head of

Asia-Pacific trading for Oanda in Singapore, referring to the

U.S.-North Korea summit.

"Risk-on environment is driving the currency markets in


However, analysts expect regional currencies to trade more

cautiously with a raft of major central bank policy meetings

coming by Friday.

The Federal Reserve is expected to hike its interest rates

for the second time this year at its policy meeting on Tuesday

and Wednesday. Some analysts also believe the Fed will hint at

raising rates a total of four times during 2018.

The European Central bank meets on Thursday 14, when it

could signal intentions to start unwinding its massive bond

purchasing programme.

Last week, the ECB's chief economist said the central bank

will debate whether to end bond purchases later this year, a

hawkish message which hit emerging markets.

Andy Ji, currency strategist at Commonwealth Bank of

Australia in Singapore, expects Asian currencies "to end the

week lower on tweaks to the ECB's forward guidance".

Regional currencies' reaction to Trump's backing out of a

joint Group of Seven communique over the weekend, was relatively

muted on Monday.

The Philippine peso was the biggest loser as

concerns over its current account deficit continue to hurt the


On Friday, the Philippine statistics agency said the trade

deficit widened to a four-month high in April on robust imports

of capital and consumer goods and as weak demand overseas dented


The following table shows rates for Asian currencies against

the dollar at 0553 GMT.


Change as of 0553 GMT

Currency Latest Previous Pct

bid day Move

Japan yen 109.790 109.53 -0.24

Sing dlr 1.334 1.3350 +0.09

Taiwan dlr 29.820 29.816 -0.01

Korean won 1073.30 1075.9 +0.24


Baht 32.030 32.06 +0.09

Peso 52.790 52.7 -0.17

Rupee 67.350 67.50 +0.22

Ringgit 3.987 3.987 +0.00

Yuan 6.407 6.4090 +0.03

*Indonesian markets are closed

this week for Eid Al-Fitr

Change so far in 2018

Currency Latest End 2017 Pct

bid Move

Japan yen 109.790 112.67 +2.62

Sing dlr 1.334 1.3373 +0.26

Taiwan dlr 29.820 29.848 +0.09

Korean won 1073.30 1070.50 -0.26


Baht 32.030 32.58 +1.72

Peso 52.790 49.93 -5.42

Rupiah 13925.0 13565 -2.59


Rupee 67.350 63.87 -5.17

Ringgit 3.987 4.0440 +1.43

Yuan 6.407 6.5069 +1.56

(Reporting by Patturaja Murugaboopathy in Bengaluru; Editing by

Richard Borsuk)