EM ASIA FX-Most Asian currencies firmer; Indonesia's rupiah leads gains

(Adds text, updates prices)

Nov 16 (Reuters) - Most Asian currencies firmed in a thin

range on Friday as hopes of easing trade tension between China

and the United States were undercut by political turmoil over

Brexit in a mixed week for regional emerging markets.

Better prospects for a consensus between the U.S. and China

on trade issues, coupled with a fall in prices of crude oil have

cheered key currency markets, with the Indian rupee,

the Indonesian rupiah and the Philippine peso on

track to post weekly gains.

"The G-10 currencies are having great influence on emerging

market currencies, particularly in Asia, which is really

dollar-driven sentiment as a whole," said Stephen Innes, head of

Asia-Pacific trading at Oanda. "It (trade) is somewhat muted

today."

The dollar benefited from a deepening crisis for Britain's

Prime Minister Theresa May after the resignations of key

ministers imperilled her Brexit plan, sparking a tumultuous

overnight slide in sterling.

The Indonesian rupiah and the Philippine peso appreciated on

Thursday's rate hikes by the countries' respective central

banks.

The Indonesian rupiah led the gainers, rising up to 0.9

percent to touch a one-week high against the dollar, and was on

course for a gain of 0.4 percent for the week.

Indonesia's central bank raised its benchmark interest rate

for the sixth time this year, as policymakers struggle to reduce

imports and lower a yawning current-account deficit.

Bank Indonesia has now hiked the key rate six times, for a

total of 175 bps, since May.

The peso rose up to 0.3 percent, heading for a weekly gain

of 0.1 percent as the Philippine central bank on Thursday raised

its benchmark interest rate for the fifth straight time in a bid

to bring elevated inflation back to within its target range next

year.

The Bangko Sentral ng Pilipinas has now lifted borrowing

costs by 175 basis points (bps) this year to tackle stubborn

price pressures, but is forecasting inflation will ease next

year, suggesting its current tightening cycle may be at an end.

"Amidst slower growth and lower oil prices, investors have

started to give the peso the doubt that the five hikes since May

could anchor inflation expectations," analysts at DBS Group

Research said in a note.

Indian rupee traded up 0.1 percent, while the Thai baht

rose 0.2 percent.

The Malaysian ringgit was little changed after Friday's data

showed the economy grew at an annual 4.4 percent pace in

July-September, the fourth straight quarter of slowing growth as

Malaysia grapples with weak external demand.

Among the decliners, the Chinese yuan and the

Korean won lost up to 0.07 percent and 0.2 percent,

respectively.

CHEAPER OIL HELPS TRIM BEARISH BETS

Bearish bets on most Asian currencies slackened over the

last two weeks, a Reuters poll showed, as a plunge in oil prices

benefited the region's major crude importers, India, and to a

lesser extent, Indonesia and the Philippines.

More short positions were unwound in the Indonesian rupiah

than in other regional currencies, a poll of 12

respondents showed. Short rupiah positions were at their lowest

since early September.

The poll was conducted before Indonesia unexpectedly raised

its policy interest rate on Thursday.

Here are rates for Asian currencies against the dollar at

0622 GMT.

CURRENCIES VS U.S. DOLLAR

Currency Latest bid Previous day Pct Move

Japan yen 113.280 113.62 +0.30

Sing dlr 1.375 1.3749 -0.01

Taiwan dlr 30.864 30.845 -0.06

Korean won 1129.400 1129.2 -0.02

Baht 32.980 33.02 +0.12

Peso 52.640 52.805 +0.31

Rupiah 14540.000 14675 +0.93

Rupee 71.770 71.98 +0.29

Ringgit 4.191 4.19 -0.02

Yuan 6.940 6.9380 -0.03

Change so far in 2018

Currency Latest bid End 2017 Pct Move

Japan yen 113.280 112.67 -0.54

Sing dlr 1.375 1.3373 -2.74

Taiwan dlr 30.864 29.848 -3.29

Korean won 1129.400 1070.50 -5.22

Baht 32.980 32.58 -1.21

Peso 52.640 49.93 -5.15

Rupiah 14540.000 13565 -6.71

Rupee 71.770 63.87 -11.01

Ringgit 4.191 4.0440 -3.51

Yuan 6.940 6.5069 -6.24

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by

Clarence Fernandez)