EM ASIA FX-Asian currencies subdued as Fed meeting in focus

 (Adds details, updates prices)
    By Ambar Warrick
    July 26 (Reuters) - Most Asian currencies inched lower on
Wednesday as the dollar edged up from a 13-month low, with
investors on the sidelines awaiting clues from the U.S. Federal
Reserve on the timing of its next monetary tightening.
    The dollar edged up against a basket of currencies,
with sentiment subdued ahead of the conclusion of the Fed's
meeting later in the global day, which could shed some light on
its plans to trim its $4.2 trillion bond portfolio.
    That reduction could put upward pressure on long-term
interest rates, driving funds away from emerging markets.
    "FOMC risks are not exclusively dovish as guidance on
balance sheet reduction could be the backstop for the sustained
dovish bets dragging yields and the USD," Mizuho Bank in
Singapore said in a research note.
    In Asian currencies, the Thai baht fell against the
    Thailand's central bank announced new rules on Wednesday to
tighten controls on credit cards and unsecured personal loans
amid concerns about high household debt and rising bad loans.

    "Asian net portfolio inflows continue to demonstrate waning
inflow momentum for the KRW, TWD, INR, and PHP, while the THB
continues to look stretched with respect to this metric," OCBC
Bank said in a research note.
    The Philippine peso fell against the dollar, after touching
a one-week high on Tuesday. The Indian rupee also edged
slightly lower against the dollar, while the Taiwan dollar
 eased off a one-week high.
    The South Korean won fell against the dollar on
Wednesday, taking a breather from its recent two-week rally.

    "The latest export numbers from South Korea have been quite
encouraging," said Dominic Schnider, Head Commodities and APAC
Forex at UBS Wealth Management Hong Kong. "For the time being,
with fundamentals looking better in the region, the won is still
one of the top performers."
    The following table shows rates for Asian currencies against
the dollar at 0514 GMT  
   Change on the day at                                       
         0514 GMT                                     
  Currency                  Latest bid  Previous day  Pct Move
  Japan yen                 111.910           111.88     -0.03
  Sing dlr                  1.363             1.3620     -0.07
  Taiwan dlr                30.388            30.360     -0.09
  Korean won                1120.800          1115.3     -0.49
  Baht                      33.490             33.45     -0.12
  Peso                      50.650             50.54     -0.22
  Rupiah                    13333.000          13325     -0.06
  Rupee                     64.420             64.38     -0.06
  Ringgit                   4.282               4.28     -0.05
  Yuan                      6.756             6.7520     -0.06
  Change so far in 2017                                       
  Currency                  Latest bid  End 2016      Pct Move
  Japan yen                 111.910           117.07     +4.61
  Sing dlr                  1.363             1.4490     +6.31
  Taiwan dlr                30.388            32.279     +6.22
  Korean won                1120.800         1207.70     +7.75
  Baht                      33.490             35.80     +6.90
  Peso                      50.650             49.72     -1.84
  Rupiah                    13333.000          13470     +1.03
  Rupee                     64.420             67.92     +5.43
  Ringgit                   4.282             4.4845     +4.73
  Yuan                      6.756             6.9467     +2.82


 (Reporting by Ambar Warrick in Bengaluru; Editing by Lisa
Twaronite & Shri Navaratnam)