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EMERGING MARKETS-Most Asian currencies remain afloat ahead of key US inflation print

* South Korean won snaps four-day losing streak * Malaysia core consumer price index ahead of forecast * Traders eye key US inflation data later this week (Updates at 0636 GMT) By Rajasik Mukherjee June 25 (Reuters) - Most emerging Asian currencies inched higher against the dollar on Tuesday, with the South Korean won snapping a four-day losing run, as investors eyed key U.S. economic data later in the week for clues on the Federal Reserve's interest rate policy. The U.S. dollar index, which measures the greenback against a basket of major currencies, was trading slightly higher at 105.520 during late Asian hours, ahead of key inflation print due later in the week. Weak U.S. inflation data would likely reinforce market bets on a Fed rate cut as early as September -- the odds of which are currently at about 65% -- which could weigh on the dollar and, in turn, benefit riskier emerging Asian assets. "A plethora of economic and political factors could challenge USD (dollar) dominance. But categorically taming the USD will be hard," Vishnu Varathan, chief economist for Asia ex-Japan at Mizuho Bank, wrote in a note. Meanwhile, the Japanese yen slipped to as low as 159.70 earlier in the day even as traders remained cautious of testing a key resistance level that had prompted currency intervention in April and May. Elsewhere in Asia, the won gained as much as 0.4%, its first increase after four days, while the Chinese yuan dropped to a seven-month low of 7.2630. Malaysia's ringgit remained unchanged after data showed the country's inflation for May came in slightly above the forecast. "We do not expect the upside risks to inflation will likely warrant BNM (Bank Negara Malaysia) to move ... (ad) expect BNM to hold its policy rate steady at 3.0% this year," said Yun Liu, ASEAN economist at HSBC. Other Asian currencies like the Indonesian rupiah, Thai baht, Singapore dollar and Taiwanese dollar all were largely unchanged. The Philippine peso also traded flat ahead of the central bank's policy meeting on Thursday where rates are expected to remain unchanged for a sixth consecutive meeting, a Reuters poll showed. Shares in Indonesia lost as much as 0.7%, eyeing their worst day in over a week, while those in Taiwan rebounded to end the day 0.3% higher. Stocks in Manila rose as much as 0.5%, while equities in Thailand ticked higher. HIGHLIGHTS: ** Indonesian 10-year benchmark yields rise to 7.113% ** Thai sees current interest rate 'robust to many scenarios' ** Dollar flirts with key 160 yen level as intervention risk looms ** Japan to respond appropriately to excessive yen volatility, official says Asia stock indexes and currencies at 0636 GMT Japan +0.08 -11.5 <.N2 4 25> +0.95 +17.0 % 6% China EC> India 0.00 -0.30 <.NS 0.21 8.54 EI> Indones +0.06 -6.01 <.JK -0.30 -5.56 ia SE> Malaysi +0.09 -2.44 <.KL -0.12 9.14 a SE> Philipp +0.12 -5.67 <.PS 0.47 -2.30 ines I> S.Korea 11> Singapo +0.05 -2.43 <.ST 0.24 2.52 re I> Taiwan -0.09 -5.21 <.TW 0.27 27.58 II> Thailan 0.00 -6.65 <.SE 0.38 -6.65 d TI> (Reporting by Rajasik Mukherjee in Bengaluru; additional Reporting by Roshan Thomas in Bengaluru; Editing by Savio D'Souza)