Most SE Asian currencies up in thin trading<\/p>\n
SINGAPORE (Dow Jones): Most Southeast Asian currencies ended
\nAsian hours a touch stronger Wednesday, after a day of minimal
\ntrading activity.<\/p>\n
In North Asia, too, regional currencies climbed, with the U.S.
\ndollar falling against the South Korean won, to dip briefly below
\nthe psychologically important 1,200 level after the central bank
\nreleased a favorable economic survey.<\/p>\n
In general, market liquidity was so thin, with so many
\nparticipants either inactive or absent altogether, that the
\nremainder were reluctant to attach any importance to the price
\nmoves they did see.<\/p>\n
\"In these conditions small, small orders can move the market a
\nlong way. I'm not sure there's much information in these exchange
\nrates,\" said Marshall Gittler, chief foreign-exchange strategist
\nat Bank of America in Hong Kong, who dismissed Wednesday's
\nmovements in regional-currency exchange rates as mere \"Brownian
\nmotion.\"<\/p>\n
Nevertheless, Gittler did point to the release by the Bank of
\nKorea of a survey showing a marginal improvement in business
\nconfidence as evidence that market sentiment toward the South
\nKorean economy and currency is recovering.<\/p>\n
At the close of local trading, the U.S. dollar was quoted at
\n1,200.50 won, above its earlier low of 1,195.00, but down from
\n1,209.50 at Tuesday's close.<\/p>\n
The new Taiwan dollar also rose on Wednesday, edged higher
\nagainst the U.S. currency by a flood of U.S. dollar sales from
\nexporters tidying their books in time for the year's end.<\/p>\n
Despite heavy U.S. dollar purchases from the central bank,
\nestimated at around $200 million, the U.S. currency still slipped
\nto a nine-month intraday low of NT$32.192 - its lowest level
\nsince March 6 when the U.S. dollar was offered at NT$32.056.<\/p>\n
By the close, the U.S. dollar had recovered a little, to
\nfinish at NT$32.246, down from NT$32.263 at the end of trading on<\/p>\n
The Singapore dollar ended Asian trading hours flat against
\nthe U.S. dollar Wednesday, having barely strayed beyond a 10-
\npoint range all day.<\/p>\n
Both interbank traders and brokers agreed transaction volumes
\nwere negligible, pointing out that the U.S. dollar remains firmly
\nin the center of its recent S$1.6550 to S$1.6650 range.<\/p>\n
Late in the Asian day the U.S. dollar was quoted at S$1.6586,
\ndown a touch from S$1.6596 late the previous day.<\/p>\n
The American dollar finished in Asian trading at 36.63 baht,
\ndown from 36.85 baht at the close of trading in Bangkok on
\nTuesday.<\/p>\n
The dollar opened Wednesday at 36.95 baht, but dropped
\nsteadily to around 36.61 baht on a trickle of selling before
\nmidmorning.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/most-se-asian-currencies-up-in-thin-trading-1447893297",
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