asian currencies rise
Asian currencies down in the first week of May. Reuters

Most Asian currencies ended the first week of May down as dollar bulls were hesitant to loosen their grip despite a soft non-farm payroll data from the United States on Friday.

Among East Asian currencies, the Malaysian ringgit and Singapore dollar suffered the most with 2.4% and 1.3% slide respectively, on the week against their US counterpart.

Both the units had traded at multi-month highs vs the US dollar in the third week of April from where they have now distanced significantly.

At close of Friday, the Singapore dollar traded at 1.3624/US dollar while the Malaysian ringgit was at an over one-month low of 4.0085/USD.

The Singdollar had traded at a 10-month high of 1.3350 two weeks ago from where it has now weakened more than 2%. The ringgit had fetched an eight-month high of 3.8405 last month.

The Thai baht fell 0.7% to 35.15/USD while the Indonesian rupiah was down 0.45% to 13,245.

The Indian and Chinese currencies had not fallen much with 0.18% and 0.35% drops to 66.56/USD and 6.4973/USD respectively. The Hong Kong dollar was little changed against the US unit this week.

As per Friday's data, US non-farm payrolls rose by a seasonally adjusted 160,000 in April, the weakest gain since September and way below most of the forecasts near 200,000 addition.

However, the report showed there was a 2.5% advance in wages compared with a year earlier, a firmer gain than March's increase.

Analysts said the report did not impact the interest rate scenario of the world's largest economy which is on a cautious hiking path.

The greenback ended 0.96% higher versus the yen, o.4% up against the euro and rallied 3% against the Australian dollar in the NFP week.