Yen, Taiwan's Dollar, Philippine Peso: Asia Currency Preview

By Bob Chen

Sept. 24 (Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.

Japanese yen: Taro Aso will become Japan's prime minister after a parliamentary vote today. Chief Cabinet Secretary Nobutaka Machimura will hold briefings at 11 a.m. and 4 p.m.

The Cabinet Office will release its Japanese business sentiment index for the third quarter at 8:50 a.m. in Tokyo. The Cabinet Office said in June that sentiment among manufacturers with more than 1 billion yen ($9.5 million) in capital was minus 15.1 points in the second quarter.

The yen was at 105.62 a dollar at 9:54 a.m. in New York.

Taiwan dollar: Export orders grew 5.38 percent in August from a year earlier, the slowest pace in more than five years, the government reported yesterday after trading hours. Factory output rose 0.41 percent from a year earlier, the smallest increase since March 2007, when production contracted.

The Taiwan dollar was at NT$31.937.

Malaysian ringgit: Consumer prices rose 8.4 percent in August, a Bloomberg survey showed before the statistics department reports the data at 5 p.m. local time. Prices gained 8.5 percent in July, the biggest increase in 27 years.

The ringgit was at 3.4088.

Philippine peso: The National Statistics Office will report July imports and trade balance tomorrow. Imports growth in June accelerated for the first time in five months, rising 12.7 percent from a year earlier. The trade deficit widened to $791 million in June from $559 million a year earlier.

The Philippine peso was at 46.56.

To contact the reporter on this story: Bob Chen in Hong Kong at bchen45@bloomberg.net.