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Asian currencies mixed vs dollar, South Korean won biggest gainer

Asian currencies mixed vs dollar, South Korean won biggest gainer

SINGAPORE: Asian currencies were mixed versus the dollar on Monday, with the South Korean won that confirmed the powerful gainer due to year-end place quadrangle and dollar-selling by local exporters.
The Malaysian ringgit was an underperformer, pressured by dollar-buying by interbank speculators and local market participants.
Market sentiment toward emerging market currencies soured in the early part of last week after sliding oil prices triggered volatility across a variety of assets and as a plunge in the Russian rouble spooked investors.
However, an upbeat economic assessment by the US Federal Reserve at last week’s policy review calmed market nerves, while the mood has also improved as oil prices and the rouble bounced from their recent troughs.