Most emerging Asian currencies slipped on Wednesday as the International Monetary Fund cut its global growth forecast and a trade conflict between the United States and Europe escalated.
Investor risk appetites contracted as the IMF downgraded its global economy outlook for a third time since October, slashing 2019 growth forecasts to 3.3 percent, the slowest pace since 2016.
Among regional currencies, the biggest loser was the Indonesian rupiah, which weakened 0.2 percent to 14,157 versus the dollar.
Adding to trade tensions rooted in the long Sino-US dispute, President Donald Trump on Tuesday threatened to impose tariffs on $11 billion worth of European Union products.
Some currency market players expect to see further economic stimulus moves by China, and are awaiting March inflation data on Thursday and trade numbers on Friday.
"USD-Asia will track broad dollar ahead of risk events and Chinese data," OCBC Bank said in a note.
Against a basket of key rival currencies, the dollar was steady at 97.017, after dropping 0.35 percent overnight.
The Thai baht, Malaysian ringgit and the Philippine peso each softened about 0.1 percent, while the Chinese yuan and Singapore dollar were flat.
Singapore's preliminary first-quarter GDP growth figure as well as a central bank policy decision are due on Friday.
RUPEE FIRMS PRE-ELECTION
The Indian rupee strengthened marginally to 69.193 per dollar ahead of voting in the general election, which gets under way on Thursday and lasts until May 19.
There was a significant surge in foreign inflows in March as polls predicted Prime Minister Narendra Modi would get a second term as he rallies his nationalist base.
Foreign flows into Indian equities in March rose to $4.889 billion from $2.419 billion in the prior month, according to National Stock Exchange data.
The following table shows rates for Asian currencies against the dollar at 0451 GMT.
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