Asian monies mixed late, data fears check dollar bulls

Dow Jones, Singapore

Asian currencies were mixed late Monday, with the market's appetite for U.S. dollars somewhat restrained by fears that U.S. economic data due this week may disappoint, dealers said.

Jitters of possible intervention by some of the region's central banks also confined most of the currencies within familiar ranges, dealers said.

In an otherwise subdued market, the Singapore dollar grabbed the limelight, slumping to its weakest level since mid-July, amid an overall loosening of monetary conditions.

Persistent foreign portfolio inflows and the yen's gains bolstered the New Taiwan dollar and South Korean won, dealers said.

The Philippine peso was marginally firmer. The Thai baht was steady, while the Indonesian rupiah was slightly weaker.

The Indonesian rupiah ended steady in thin trading as most local companies have already secured their dollar needs for month-end requirements, dealers said.

The dollar closed at Rp 10,265, little changed from its Friday close at Rp 10,260.

Dealers said demand for dollars from local companies has subsided as most of them met their dollar requirements earlier this month to finance imports.

Against the Singapore dollar, the U.S. dollar pierced the S$1.8300 level to hit as high as S$1.8330, on demand by local banks and U.S. investment houses, dealers said.

The New Taiwan dollar ended at its strongest level in more than two months, but off its intraday high after the central bank intervened to keep a rein on the local currency's appreciation, dealers said.

The U.S. dollar ended at NT$34.528, down from NT$34.539 Friday.

In Seoul, the dollar hit a six-week low of 1,293.2 won in early trade.

After moving in a tight range, the dollar finished at 1,294.0 won, down from 1,296.3 won Friday.

Despite persistent rumors of coup attempts against the Philippine government, the peso ended slightly higher amid fears of central bank intervention and demand for the currency by interest-rate arbitrageurs, dealers said.

The dollar ended at 51.930 pesos, lower than 52.040 pesos Friday.

The Thai currency was steady, at 44.830 baht to the dollar compared with 44.825 baht late Friday.