Asian units weaken on signs of US rate hike

Singapore

MOST emerging Asian currencies eased on Monday after solid US jobs data cemented expectations that the Federal Reserve will raise interest rates next week for the first time in nearly a decade.

China's yuan hovered around a four-month low as the central bank set a weaker daily guidance rate to reflect a strong US dollar. The South Korean won slid about one per cent as foreign investors continued to sell Seoul shares. The Singapore dollar fell on the yuan's weakness.