CNY

During early Asian deals on Wednesday, most Southeast Asian currencies gained ground against the US currency hitting multi-month highs as a rise in Asian stocks boosted demand for emerging-market assets. 

Asian stock markets are trading in positive territory Wednesday, with better-than-expected data on US manufacturing and retail sales front rising optimism about a swift economic revival.

During Thursday's Asian trading, most Southeast Asian currencies lost ground versus the US currency as drop in most Asian stocks dampened apply for emerging market assets. The currencies of India, Malaysia, Pakistan and Singapore, thus, slipped to new multi-day lows against the greenback. The South Korean won, Thai baht and the Chinese Yuan also weakened against the greenback. At the same time, Taiwan dollar inched up against the US dollar. 

During early Asian deals on Wednesday, most South East Asian currencies gained against the US currency. 

The Chinese yuan edged up during early Asian trading on Wednesday climbing to 6.8316 against the greenback around 9:20 pm ET, setting the highest level since June 4. That may be compared to Tuesday's New York close at 6.8357. The next likely target for USD/CNY rally was seen around 6.828 level.

During Friday early deals in Asia, the Chinese yuan rose versus euro and dollar, reaching a 2-day high against the greenback, after a report showed that China's May factory output rose more than forecast and retail sales growth accelerated, giving new impetus to investor hopes the Chinese economy can lead a global revival.

Early Tuesday morning in Asia, most Southeast Asian currencies lost ground against the U.S. dollar. Thus the Indian rupee, Malaysian ringgit and the Taiwan dollar plunged from new multi-month highs against the US currency.

The currencies slipped despite a gain in stock prices. With better-than-expected economic data from the U.S.

Monday morning in Asia, most Southeast Asian currencies depreciated against the greenback as most of the markets in the Asia-Pacific region have turned weak after an early surge with participants turning cautious after news poured in about the conduct of a nuclear test by North Korea.

The Singapore dollar edged down to 1.4476 against buck during early Asian deals on Monday, with 1.45 seen as the near term support. USD/SGD pair closed Friday’s deals in New York at the level of 1.4424.

Thursday’s early Asian session revealed most Southeast Asian currencies became stronger against the US currency as they jumped to new multi-week highs following the U.S. Federal Reserve's decision to buy more government debt as a way to relieve a global recession.

Thereby the Taiwan dollar strengthened against the US dollar to 33.7670 against Wednesday’s close at 34.1820 setting the highest point for this currency since February 09. The next target level for TWD/USD is seen as 33.5.