Emerging Asian FX mixed on rate hike, recession woes; ringgit, baht gain

MOST Asian currencies and equities were mixed on Friday, while the Malaysian ringgit and Thai baht edged higher, as market participants continued to weigh possible rate hikes by the U.S. Fed and global recessionary fears.

The ringgit appreciated as much as 0.4% to hit its highest level in nine months, while the Thai baht and Philippine peso strengthened 0.2% and 0.1%, respectively.