EM ASIA FX-Less dovish Fed causes Asia FX profit-taking from monthly gains

Reuters

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SINGAPORE, Oct 31 (Reuters) - Most emerging Asian currencies

slid on Thursday as investors took profits from their monthly

gains after the Federal Reserve's steady stance disappointed

some expectations of more dovish comments.

The Indonesian rupiah led the daily depreciation.

Malaysia's ringgit also slid as investors cut bullish bets on

the best performing emerging Asian currency in October.

The South Korean won turned lower as the

authorities were suspected of intervening even after a U.S.

Treasury report urged Asia's fourth-largest economy to refrain

from targeting exchange rates.

The won came under further pressure from dollar demand from

importers and custodian banks, while foreign investors were set

to snap a record net buying streak at 44 sessions in Seoul's

main stock market.

In October, emerging Asian currencies were poised to see

monthly gains.

The ringgit has risen 3.2 percent against the dollar, which

would be the largest monthly gain since January 2012, according

to Thomson Reuters data. Investors welcomed the government's

plans to tackle a fiscal deficit including a new consumption

tax.

The rupiah has advanced 2.7 percent on capital inflows. If

the Indonesian currency the appreciation, it would be the

biggest monthly rise since September 2009.

The Indian rupee has gained 2.0 percent, while both

the Singapore dollar has been up 1.4 percent.

The won rose 1.3 percent, while the Philippine peso gained

0.8 percent.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0820 GMT

Currency Latest bid Previous day Pct Move

Japan yen 98.30 98.53 +0.23

Sing dlr 1.2385 1.2393 +0.06

Taiwan dlr 29.438 29.475 +0.13

Korean won 1060.44 1060.20 -0.02

Baht 31.10 31.06 -0.13

Peso 43.21 43.10 -0.25

Rupiah 11265.00 11165.00 -0.89

Rupee 61.35 61.24 -0.19

Ringgit 3.1570 3.1485 -0.27

Yuan 6.0944 6.0938 -0.01

Change so far in 2013

Currency Latest bid End prev year Pct Move

Japan yen 98.30 86.79 -11.71

Sing dlr 1.2385 1.2219 -1.34

Taiwan dlr 29.438 29.136 -1.03

Korean won 1060.44 1070.60 +0.96

Baht 31.10 30.61 -1.58

Peso 43.21 41.05 -5.00

Rupiah 11265.00 9630.00 -14.51

Rupee 61.35 54.99 -10.37

Ringgit 3.1570 3.0580 -3.14

Yuan 6.0944 6.2303 +2.23

(Reporting by Jongwoo Cheon; Editing by Kim Coghill)

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