Patient Yellen fails to lift Asia FX; Ringgit, Singapore dollar at 1-week lows

SINGAPORE: Most emerging Asian currencies slid on Monday amid expectations that the U.S. Federal Reserve will start raising interest rates later this year, even though its chief reiterated that it may not rush to tighten monetary policy.

"NEER-implied USD-SGD thresholds are also slightly higher on the day with the pair likely to base around 1.3675 towards 1.3775 if regional sentiment remains shaky," said Emmanuel Ng, a foreign exchange strategist with OCBC Bank ( Financial Dashboard), wrote in a client note, referring to the Singapore dollar nominal effective exchange rate.