MUMBAI - Malaysia's ringgit led Asian currency gains after China strengthened the yuan's fixing by the most in seven sessions as appetite holds up for emerging-market assets.
A measure tracking the US dollar halted a six-day advance overnight, lending support to exchange rates in less-developed nations before Friday's jobs data, which may provide greater insight as to when the Federal Reserve is likely to make its next move to hike interest rates.
With Brent crude up about 48 per cent from January's 12-year low, a gauge of emerging currencies headed for the best quarter in four years and an equivalent stocks index was set for the biggest three-month gain since June 2014.
"The main reasons boosting Asian currencies are the stronger yuan fixing and a weaker dollar,'' said Divya Devesh, the Singapore-based foreign-exchange strategist for Asia at Standard Chartered Plc.
"Commodities might only be helping at the margin.''
South Korea and Taiwan have alone lured more than US$7 billion to shares this month and eyes will be on their biggest trading partner China as it reports manufacturing and services data this week, another key event to assess whether rallies in emerging nations