SINGAPORE: The Indonesian rupiah led slides among emerging Asian currencies on Tuesday and the Philippine peso hit its weakest level in more than three years as the dollar broadly gained despite disappointing US data.
The rupiah fell on corporate dollar demand, even though the central bank was spotted intervening to limit losses.
The peso lost 0.3 percent to 44.851 per dollar, its weakest since September 2010, as a break of 44.750 triggered stop-loss selling, traders said.
Most government bond yields rose as Philippine annual inflation in December picked up to hit its highest in two years.
The Singapore dollar slid 0.3 percent to 1.2720 to the greenback, its softest since Sept. 9, as hedge funds sold the unit, sparking stop-loss selling.
The city-state's currency may weaken to 1.2730-1.2740 to the US dollar, analysts said, with a 200-week moving average at 1.2733.
It also has the 76.4 percent Fibonacci retracement at 1.2738 of its appreciation between August and October.
"The Singapore dollar's downtrend stays intact," said a foreign bank trader in Singapore.
"Given the Fed tapering and a slowing local economy, it is hard to say that the Singapore dollar is a safe asset in Asia at present," the trader said.
The Singapore dollar is seen as relatively safe in Asia, given the city-state has triple-A sovereign ratings.
South Korea's won touched a near two-month low as offshore funds continued to cut long positions.
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