EM ASIA FX-Yuan helps Asia FX counter Iraq worries, baht at 3-week high

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SINGAPORE, June 13 (Reuters) - The Thai baht rose to its

strongest level in more than three weeks on Friday and most

emerging Asian currencies looked set to enjoy weekly gains as a

jump in the yuan offset concerns about the escalating civil war

in Iraq.

The baht advanced on bond inflows and after the

leader of the military government said an interim government

would be set up by August.

The yuan hit two-month highs against the dollar,

and looked set for its best weekly performance since December

2011.

Some signs of stabilisation in China's economy raised hopes

that the central bank has put the currency back on a gradual

appreciation path after engineering a sharp correction earlier

in the year to punish speculators.

Retail sales, a key gauge of consumption in the world's

second-largest economy, rose in May from a year earlier, marking

the fastest pace since December.

The yuan led weekly regional appreciation with a 0.7 percent

gain against the dollar, encouraged by a series of strong

mid-point fixings by the central bank.

Many emerging Asian currencies tend to track the renminbi

given regional economic dependence on China. Some of them are

used for proxy trades to bet on the yuan's direction.

The baht has risen 0.6 percent, while the Indonesian rupiah

has appreciated 0.4 percent.

South Korea's won gained 0.3 percent, while the

Singapore dollar has enjoyed similar appreciation.

The Taiwan dollar ended the week up 0.1 percent.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0800 GMT

Currency Latest bid Previous day Pct Move

Japan yen 101.82 101.71 -0.11

Sing dlr 1.2480 1.2480 +0.00

Taiwan dlr 30.048 30.045 -0.01

Korean won 1017.72 1017.70 -0.00

Baht 32.36 32.45 +0.28

Peso 43.79 43.82 +0.07

Rupiah 11784.00 11786.00 +0.02

Rupee 59.56 59.25 -0.52

Ringgit 3.2130 3.2080 -0.16

Yuan 6.2097 6.2185 +0.14

Change so far in 2014

Currency Latest bid End prev year Pct Move

Japan yen 101.82 105.28 +3.39

Sing dlr 1.2480 1.2632 +1.22

Taiwan dlr 30.048 29.950 -0.33

Korean won 1017.72 1055.40 +3.70

Baht 32.36 32.86 +1.55

Peso 43.79 44.40 +1.38

Rupiah 11784.00 12160.00 +3.19

Rupee 59.56 61.80 +3.76

Ringgit 3.2130 3.2755 +1.95

Yuan 6.2097 6.0539 -2.51

(Reporting by Jongwoo Cheon; Editing by Jacqueline Wong)