Japan's Yen, Ringgit, Hong Kong Dollar: Asia Currency Preview

By Aaron Pan

Aug. 22 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: The Bank of Japan will release the minutes of its July 14-15 policy meeting at 8:50 a.m. The central bank unanimously decided to keep its key overnight lending rate at 0.5 percent at the meeting.

Finance Minister Bunmei Ibuki, Economic and Fiscal Policy Minister Kaoru Yosano and Chief Cabinet Secretary Nobutaka Machimura will hold briefings after a cabinet meeting this morning.

The yen was at 108.72 a dollar as of 7 a.m. in New York.

Taiwan dollar: The economy expanded 4.54 percent in the second quarter from a year earlier, slowing from a 6.06 percent pace in the first, economists in a Bloomberg News survey said before a government report at 4:30 p.m. in Taipei.

The seasonally-adjusted unemployment rate rose to 3.9 percent in July, from 3.88 percent in June, another survey showed before a separate report at 4 p.m. local time.

The island's dollar was at NT$31.389.

Malaysia's ringgit: Consumer prices rose 7.8 percent in July from a year earlier, economists said in a Bloomberg News survey before the government reports the data at 5 p.m. in Kuala Lumpur. Prices jumped 7.7 percent in June, the most in 26 years.

The ringgit was at 3.3405.

Hong Kong dollar: The government has no plans to change the city's fixed exchange rate system, Hong Kong Monetary Authority Chief Executive Joseph Yam said yesterday.

Inflation unexpectedly accelerated in July to 6.3 percent, matching the fastest pace in more than a decade, a government report showed yesterday.

The Hong Kong dollar was at HK$7.8076.

To contact the reporter on this story: Aaron Pan in Hong Kong at Apan8@bloomberg.net.