Asian currencies steady with US data
The Philippine peso, Taiwan dollar and South Korean won slipped between 0.1 percent and 0.3 percent, while most other currencies were little changed.
An MSCI index of global emerging market currencies was largely flat, while the dollar index dropped 0.2 percent following a 0.4 percent decline last week.
Market players braced for US consumer price data, due on Tuesday, for clues on the Federal Reserve's rate-cut path, with a hotter-than-expected report likely to jolt markets by tempering hopes of near-term easing.
US President Donald Trump's August 12 deadline for a US-China deal also loomed over markets, with chip policy at the centre of the standoff. Expectations are growing for yet another extension.
US imports from Southeast Asia's biggest economies now carry tariffs of about 19 percent, well below the levels initially threatened.
Last week, the Trump administration slapped tariffs of 10 percent to 50 percent on dozens of countries and tacked on 40 percent duties for products found to be illegally rerouted to conceal their origin.
'We expect emerging Asian currencies will benefit from US dollar softness in the second half of year. In particular, domestically driven economies with relatively higher yields on offer could be better positioned to gain from dollar weakness,' said Lloyd Chan, FX strategist at MUFG.
Elsewhere, changes at the helm of key US monetary policy bodies also drew attention. While Trump's Fed governor pick, Stephen Miran, may not be in place to weigh in on a September cut, the race for a new chair has widened to about 10 contenders.
Stock markets advanced, with Taiwan up 0.5 percent, while Indonesia and Malaysia climbed 0.5 percent and 0.8 percent, respectively.
The Philippine central bank signalled it may deliver the first of two rate cuts planned for this year at its August 28 meeting, with inflation staying subdued. Manila shares dropped 1.3 percent.
Thailand's stock markets were closed for a public holiday. The Bank of Thailand's policy rate decision is due later this week, with analysts at Nomura expecting the central bank to leave its policy rate unchanged.
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