SINGAPORE, Jan. 10 (Reuters) — Asian currencies slipped in holiday-thinned trading on Tuesday, weighed down by profit-taking after their sharp rises in the past week and the anxiety about possible central bank intervention.
Markets in Singapore, Indonesia and Malaysia were closed for a Muslim festival holiday. That kept trading volumes thin.
The won closed local trade around 982 per dollar, just off Monday’s high of 975 which was the currency’s strongest level since the Asian financial crisis in 1997.
The Philippine peso fell to P52.645 per dollar, off Monday’s peak of P52.25 which was its highest level since May 2003.
The Thai baht gave up some ground, easing to 39.93 from Monday’s 8-month high of 39.69 a dollar.
“Seems like some players took profit, but when we were back up above 39.90 some exporters came to sell dollars,” said a baht trader based in Bangkok.
Regional currencies slipped as the dollar staged a slight rebound from three-month lows struck the past couple of sessions against the euro and yen.
Also, markets paused to see the extent to which central banks around the region would intervene to cap their currencies, which have risen sharply since the start of the year.
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