Most emerging Asian currencies inched up in choppy trade on Wednesday, with markets in a wait and see mode, after stronger-than-expected economic data from the United States refuelled fears of aggressive interest rate hikes.
South Korea's won appreciated 0.2%, while Singapore's dollar and the Philippine peso firmed 0.1% each.
The overnight U.S. jobs report - closely watched by the Federal Reserve - pointed to strong demand for labour, and data also showed U.S. consumer confidence rebounded more than expected in August after three straight monthly declines.
"Overnight it was 'good news is bad news' with the strong JOLTS data showing no signs of cooling in the labour market with the inference the Fed may need to be more aggressive to bring inflation under control," said Tapas Strickland, an economist at National Australia Bank.
The dollar index see-sawed and was last down 0.1% at 0420 GMT. Thailand's baht, which has lost about 9% so far this year, weakened as much as 0.1% before reversing losses to trade in line with its regional peers.
Its July current account data is due later on Wednesday. "July current account due today will be closely watched. Consensus expects the reading to narrow slightly... any unexpected signs of further widening could weigh on THB sentiments and vice versa," analysts at Maybank wrote.
India's June-quarter gross domestic product figures, due at 1200 GMT, also kept investors hooked.
Asia's third-largest economy will likely record strong double-digit economic growth in the last quarter but economists polled by Reuters expected the pace to more than halve this quarter and slow further toward the end of the year as interest rates rise.
Meanwhile, China, the world's second-largest economy and the region's largest trading partner, imposed tougher COVID-19 curbs on several big cities on Tuesday.
Equities in Manila and Jakarta led losses, dropping 1.3% and 0.9, respectively. Singapore's benchmark index fell 0.5%, while stocks in Seoul rose 0.2%.
Shares markets in India and Malaysia were closed on account of a public holiday.
(Reporting by Upasana Singh in Bengaluru; editing by Christian Schmollinger )