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EM ASIA FX-Most currencies range-bound after U.S. tariffs on Chinese imports kick in

* Most currencies range-bound

* Yuan slips after U.S. imposes tariffs on Chinese imports

(Adds text, updates prices)

By Aditya Soni

July 6 (Reuters) - Most Asian currencies traded in thin

range on Friday, with investors anxious after U.S. sanctions on

some goods imported from China took effect, potentially setting

the world's two biggest economies on their way to a full-blown

trade war.

The U.S. tariffs on $34 billion in Chinese imports took

effect at 0401 GMT. President Donald Trump has warned the United

States may ultimately target over $500 billion worth of Chinese

goods, an amount that roughly matches last year's total U.S.

imports from China.

The Chinese yuan, which has been battered by the trade

tensions, slipped 0.2 percent with Beijing having vowed to

immediately retaliate against U.S tarrifs.

"The implementation was well anticipated and the

implementation came with no additional surprise," said

Christopher Wong, a senior FX strategist with Maybank.

Escalating United States-China trade tension has created

doubts on whether the global growth that benefited regional

stocks last year could be sustained. Foreign investors sold

Asian equities for a fifth consecutive month in June.

Investors were also cautious ahead of U.S. nonfarm payrolls

data due later in the day.

U.S. employers were expected to continue their brisk hiring

in June while also increasing wages, which would reinforce

expectations of robust economic growth in the second quarter and

allow the Federal Reserve to continue raising interest rates.

The Indonesian rupiah slipped 0.3 percent and was

among the few currencies that weakened.

Indonesia's central bank expects a trade surplus in June

after noting a "significant" drop in imports last month, Bank

Indonesia official Nanang Hendarsah said on Friday.

Higher oil prices had inflated the country's imports bill in

April and May, leading to trade deficits that were larger than


The Thai baht and the Indian Rupee

strengthened 0.1 percent each.

"Thailand has a very large current account surplus which

does provide a buffer to the weakening we have seen in regional

currencies," said Khoon Goh, ANZ's head of Asia research.

The baht has been resilient in the face of challenging

trading conditions to be the region's second-best performer.

The rupee was bolstered by a fall in oil prices. India is

the world's third-biggest oil importer and higher oil prices

threaten to spur inflation and widen its fiscal deficit.

The South Korean won firmed 0.3 percent, while

the Singapore dollar ticked up 0.1 percent.

The following table shows rates for Asian currencies

against the dollar.


Change on the day at 0540 GMT

Currency Latest bid Previous day Pct Move

Japan yen 110.740 110.61 -0.12

Sing dlr 1.364 1.3645 +0.04

Taiwan dlr 30.528 30.540 +0.04

Korean won 1115.400 1118.6 +0.29

Baht 33.190 33.23 +0.12

Peso 53.391 53.397 +0.01

Rupiah 14417.000 14380 -0.26

Rupee 68.893 68.95 +0.08

Ringgit 4.042 4.041 -0.02

Yuan 6.656 6.6371 -0.28

Change so far in 2018

Currency Latest bid End 2017 Pct Move

Japan yen 110.740 112.67 +1.74

Sing dlr 1.364 1.3373 -1.95

Taiwan dlr 30.528 29.848 -2.23

Korean won 1115.400 1070.50 -4.03

Baht 33.190 32.58 -1.84

Peso 53.391 49.977 -6.39

Rupiah 14417.000 13565 -5.91

Rupee 68.893 63.87 -7.29

Ringgit 4.042 4.0440 +0.05

Yuan 6.656 6.5069 -2.24

(Reporting by Aditya Soni in Bengaluru

Editing by Eric Meijer)