Asian currencies strengthened against a softer U.S. dollar on Tuesday, with the South Korean won edging higher after release of robust second-quarter economic data, but caution persisted as markets braced for a rate hike from the U.S. Federal Reserve. The Philippine peso gained 0.2% while the Indonesian rupiah hit its highest level in more than three weeks. The won was up 0.4%. South Korea’s economic growth unexpectedly picked up in the second quarter, helped by a rebound in consumption that followed easing of COVID-19 curbs.The data supported the case for further interest rate rises by the country’s central bank. ... (full story)