EM ASIA FX-Asia FX slips as hopes for U.S. debt deal lift dollar

Reuters

(Updates prices. For earlier report, double-click on

)

SINGAPORE, Oct 10 (Reuters) - Most Asian currencies edged

lower on Thursday as the dollar rose broadly on hopes that U.S.

lawmakers are inching toward resolving a fiscal standoff and

averting the risk of a U.S. debt default.

U.S. House of Representatives Republicans are considering

signing onto a short-term increase in the government's borrowing

authority to buy time for negotiations on broader policy

measures, according to a Republican leadership aide.

Agreement on raising the debt ceiling would at least stave

off a possible default after Oct. 17, when Treasury Secretary

Jack Lew has determined the U.S. will no longer be able to

borrow.

Against this backdrop, emerging Asian currencies were mostly

steady or lower against a broadly firmer U.S. dollar, with the

Singapore dollar slipping by 0.1 percent.

The Thai baht touched a three-week low of 31.54 at

one point, but reversed course to strengthen slightly for the

day.

The South Korean won ended nearly flat in

domestic trade as dollar-selling by local exporters helped erase

the won's initial losses.

Traders shrugged off the Bank of Korea's decision to hold

interest rates steady for a fifth consecutive month.

CURRENCIES VS U.S. DOLLAR

*Taiwan's financial markets were closed on Thursday for a

public holiday.

*The won's previous close is from Oct. 8. South Korean

markets were closed on Wednesday for a public holiday.

Change on the day at 0749 GMT

Currency Latest bid Previous day Pct Move

Japan yen 97.68 97.35 -0.34

Sing dlr 1.2514 1.2499 -0.12

Taiwan dlr 29.516 29.548 +0.11

Korean won 1072.75 1073.70 +0.09

Baht 31.42 31.44 +0.06

Peso 43.17 43.14 -0.07

Rupiah 11525.00 11520.00 -0.04

Rupee 61.96 61.93 -0.05

Ringgit 3.1950 3.2000 +0.16

Yuan 6.1191 6.1211 +0.03

Change so far in 2013

Currency Latest bid End prev year Pct Move

Japan yen 97.68 86.79 -11.15

Sing dlr 1.2514 1.2219 -2.36

Taiwan dlr 29.516 29.136 -1.29

Korean won 1072.75 1070.60 -0.20

Baht 31.42 30.61 -2.58

Peso 43.17 41.05 -4.91

Rupiah 11525.00 9630.00 -16.44

Rupee 61.96 54.99 -11.25

Ringgit 3.1950 3.0580 -4.29

Yuan 6.1191 6.2303 +1.82

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(Reporting by Masayuki Kitano in SINGAPORE, additional

reporting by Se Young Lee in SEOUL; Editing by Richard Borsuk)

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