EM FX Asia trades firmer
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By Susan Mathew Oct 31 (Reuters) - Most Asian currencies advanced on Tuesday with the dollar coming under pressure after investigators probing Russian meddling in the U.S. election had charged President Donald Trump's former campaign manager. Federal investigators probing Russian interference in the 2016 U.S. election charged Paul Manafort, Trump's former campaign manager, and aide Rick Gates with money laundering on Monday. "The scope of the investigation will likely widen. But at this stage, we have no idea if there's a smoking gun or its all a tempest in a teapot," Stephen Innes, Head of Trading Asia at FX broker OANDA, said in a note. Sentiment appears subdued as Trump contemplates his choice for the next Fed chair, which will influence the future pace of its rate hikes. Thus far, Jerome Powell, seen as less hawkish than fellow candidate John Taylor, remains in favour. The dollar fell to a one-week low against the yen, while the dollar index, which measures the greenback against six rivals, was marginally higher. The South Korean won led gains in the region, hitting its highest in two months. The Indonesian rupiah was up slightly, on-track to post its third straight month of gains. Sentiment may also have been boosted by data out later on Monday showing that Indonesia saw foreign direct investment increase at a slightly faster pace in July-September than in the previous quarter. The Taiwan dollar was 0.2 percent higher ahead of preliminary third-quarter economic growth data to be out later in the day. Reuters