The Taiwan dollar had its best day in a month, rising 0.5% to 30.948 per U.S. dollar. The South Korean wonOutside of Asia, expectations for ECB easing this week have weighed on the euro. The single currencyhas shed 3.5% since June and fell to a one-week low of $1.0983 overnight. It was steady at $1.1013 by mid-session in Asia.
The ECB is almost certain to cut rates, promise to keep rates low for longer and provide banks relief from the side effects of negative rates. However, new asset purchases, priced in by markets, are not a done deal with some conservative policymakers opposing the move.
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