Asian currencies were a mixed bag on Thursday amid uncertainty over the near-term direction of major currencies and on domestic factors that tainted market sentiment.
The Singapore dollar fell as low as 1.7145 per US dollar, not far from three-month lows at 1.7185 hit last week.
While underpinned by an improving economic outlook, dealers said players were reluctant to aggressively push the currency in either direction.
Deputy Prime Minister Lee Hsien Loong said on Wednesday the economy was expected to expand at a rate near the top end of the government's forecast for 3.5 to 5.5 percent this year.
But dealers said the US dollar's recent sharp rise against most major currencies and talk that some local companies were buying US dollars for overseas investments were likely to keep the Sing dollar under selling pressure.
The US dollar gained against most major currencies on Thursday but the Japanese yen held its ground on the stronger side of the 111 per dollar level, above six-month lows hit earlier in the week.
"There is not that much of a lead from the majors," said Sameer Goel, strategist at Bank of America in Singapore.
The Thai baht was a touch higher at 39.38 per dollar, but players were cautious about net sales of Thai equities by foreign investors in recent sessions, dealers in Singapore said.
A steadier yen, however, buoyed the South Korean won and the Taiwan dollar.
The Korean currency market defied worries about an impeachment move against President Roh Moo-hyun over partisan election comments and sale of local stocks by foreign investors.
The won rose as high as 1,168.3 per dollar, against Wednesday's local close of 1,172.9 and far from its one-month low of 1,185.8 hit a couple of weeks ago.
Bank of America's Goel said the market generally did not believe the South Korean opposition would be able to dislodge President Roh and had its focus on the medium-term prospects for the economy and the currency.
"The market realises that this impeachment issue is more political noise than anything else," he said.
The Bank of Korea left its benchmark overnight call rate target unchanged at a record low of 3.75 percent at its monthly policy meeting on Thursday.
The decision followed data earlier in the day showing consumers were less optimistic in February, the first downbeat report in four months. The central bank governor later told a news conference the market should dictate the foreign exchange rate, suggesting a shift in the long-standing policy favouring a weaker won.
The Taiwan dollar rose to around 33.33 per US dollar, from an early low of 33.394 and Wednesday's local close of 33.384, helped by the steadier tone in the won and yen.
The Philippine peso was a touch weaker, not far from its all-time low of 56.35 per dollar.
Dealers in Manila said the peso's downside was limited by the Philippines' rather successful sale of a $500 million bond due March 17, 2015.