Asian currencies traded mixed against the U.S. dollar in early trade on Monday, reflecting cautious positioning ahead of upcoming U.S. economic data and ongoing shifts in global risk sentiment.
The Japanese yen strengthened to 156.72 per dollar, rising about 0.3% from the previous session, supported by firm equity markets in Japan and expectations that domestic political developments could keep policy conditions accommodative for now.
The Taiwan dollar also edged higher to 31.605, while the Thai baht gained to 31.393, tracking improved regional risk appetite. The Philippine peso inched up to 58.468, extending mild gains seen in recent sessions.
In contrast, the South Korean won weakened slightly to 1,465.7 per dollar, underperforming peers despite a sharp rally in local equities, as currency markets remained sensitive to U.S. rate expectations. The Singapore dollar was marginally lower at 1.271, reflecting a broadly steady U.S. dollar tone.
The Indian rupee and Indonesian rupiah were largely unchanged at 90.655 and 16,860, respectively, indicating limited near-term triggers. Meanwhile, the Malaysian ringgit outperformed with a 0.5% gain to 3.925, benefiting from improved regional sentiment.
Overall, Asian FX moves remained measured, with traders balancing a slightly firmer risk backdrop against uncertainty over the U.S. Federal Reserve’s policy path and upcoming macroeconomic data.
