EM ASIA FX-Fed caution hits Asia FX; rupee hits 3-week low

Reuters

(Updates prices. For midday report, double-click

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SINGAPORE, Nov 1 (Reuters) - The Indian rupee hit three-week

lows on Friday, leading declines among emerging Asian currencies

as solid U.S. data revived worries the Federal Reserve might

start cutting its monetary stimulus soon.

Some of Friday's initial losses for emerging Asian

currencies were pared by news that two surveys showed China's

manufacturing sector grew at the fastest pace in 18 months in

October.

Still, most regional units were poised to see weekly slides

as the dollar hit a two-week high against a basket of major

currencies. Business activity in the U.S. Midwest rose more than

expected in October and weekly U.S. jobless claims also fell,

data showed.

The rupee fell as much as 0.8 percent to 61.96 per

dollar, its weakest since Oct. 10.

Indian factories cut production in October with overall

activity contracting for the third straight month, while other

Asian factory sectors grew at their fastest pace in months led

by China.

For the week, the Indonesian rupiah was on track to

be worst performing emerging Asian currency, with a 2.7 percent

loss against the dollar. If that loss is maintained, this will

be the rupiah's largest weekly fall since late August, according

to Thomson Reuters data.

The Malaysian ringgit has lost 0.9 percent while

the rupee has fallen 0.7 percent.

The Singapore dollar has eased 0.5 percent and the

Thai baht has shed 0.4 percent.

The Philippine peso, which did not trade in the

local market on Friday due to a holiday, slid 0.4 percent this

week.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0830 GMT

Currency Latest bid Previous day Pct Move

Japan yen 98.12 98.35 +0.23

Sing dlr 1.2422 1.2420 -0.02

Taiwan dlr 29.452 29.455 +0.01

Korean won 1060.91 1060.70 -0.02

Baht 31.16 31.10 -0.19

*Peso 43.21 43.21 +0.00

Rupiah 11310.00 11265.00 -0.40

Rupee 61.88 61.50 -0.61

Ringgit 3.1720 3.1556 -0.52

Yuan 6.0996 6.0945 -0.08

Change so far in 2013

Currency Latest bid End prev year Pct Move

Japan yen 98.12 86.79 -11.55

Sing dlr 1.2422 1.2219 -1.63

Taiwan dlr 29.452 29.136 -1.07

Korean won 1060.91 1070.60 +0.91

Baht 31.16 30.61 -1.77

Peso 43.21 41.05 -5.00

Rupiah 11310.00 9630.00 -14.85

Rupee 61.88 54.99 -11.13

Ringgit 3.1720 3.0580 -3.59

Yuan 6.0996 6.2303 +2.14

* Philippine financial markets were closed for a holiday.

(Reporting by Jongwoo Cheon; Editing by Richard Borsuk)

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