EM ASIA FX-Post-ECB dollar strength hurts Asia FX; yuan at fresh 6-yr low

* Yuan to see 3rd weekly loss on corporate dollar demand

* Philippine peso down; Duterte declares "separation" from

U.S.

* Rupiah falls after Indonesia c.bank unexpectedly cuts

rates

(Adds text, updates prices)

By Jongwoo Cheon

SINGAPORE, Oct 21 (Reuters) - Emerging Asian currencies slid

on Friday as the dollar hit a seven-month peak on the euro's

weakness after the European Central Bank dampened speculation

about plans to reduce stimulus, while lower oil prices soured

risk sentiment.

Regional currencies came under further pressure as the

Chinese yuan touched another six-year low, dragging

the Singapore dollar to its weakest since early March.

South Korea's won led regional losses on dollar

demand from importers.

The Philippine peso fell a day after President

Rodrigo Duterte announced his "separation" from the United

States. Trade Minister Ramon Lopez on Friday said Manila would

maintain its trade and economic ties with the world's top

economy.

Indonesia's rupiah eased after the central bank

unexpectedly cut interest rates on Thursday. The

currency found some relief as most government bond prices

rose.

The Malaysian ringgit slumped with oil prices

falling, while investors were awaiting the country's 2017 budget

due later in the day.

The U.S. dollar hit a seven-month high with the

euro's weakness.

The ECB left its ultra-loose monetary policy unchanged on

Thursday but kept the door open to more stimulus in December,

with ECB President Mario Draghi dousing recent market

speculation that the central bank may begin tapering its 1.7

trillion euro asset-buying programme.

The ECB's monetary policy stance could continue to support

emerging Asian assets, but markets focused more on expectations

of the U.S. Federal Reserve's interest rate hike in December.

"Emerging Asian currencies will weaken further until markets

price in 80-90 percent chance of a Fed hike in December," said

Sean Yokota, head of Asia strategy at Scandinavian bank SEB in

Singapore.

U.S. interest rate futures implied traders saw more than a

70 percent chance of a rate hike in December, according to CME

Group's FedWatch program.

Yokota also said sentiment could stay fragile until the U.S.

presidential election on Nov. 8, although Democratic

presidential nominee Hillary Clinton is seen beating Republican

rival Donald Trump.

"Memories of Brexit are too close," Yokota said, referring

to Britain's surprise vote to leave the European Union in June.

YUAN UNDERPERFORMS

The yuan has lost 0.4 percent against the dollar so far this

week, and is set for a third straight weekly loss.

The Chinese currency has been under pressure as the world's

second-largest economy has not shown clearer signs of a recovery

yet. Local companies also need dollars to repay foreign debts

and for overseas investments.

"Weak exports scream for a weaker yuan, but at what expense

as far as capital outflows," said Stephen Innes, senior FX

trader for FX broker OANDA in Singapore.

"The yuan will weaken gradually into the year-end from

fundamental issues unless there is a huge surprise in the

economic climate both in China and the globe," Innes said,

adding his year-end forecast for offshore yuan is

6.8000 per dollar. The so-called CNH fell to as weak as 6.7664

earlier.

Singapore's dollar on Friday slid to 1.3954 to the

U.S. dollar, its weakest since March 3, extending its weekly

depreciation to 0.2 percent.

The growing risks of recession in the trade-reliant economy

has raised prospects of an off-cycle easing in monetary policy,

a Reuters poll showed, although for now the consensus among

economists is for the central bank to sit tight in the hope the

economy sparks to life.

By contrast, the Thai baht has gained 0.4 percent

on hopes for calm after King Bhumibol Adulyadej, the world's

longest-reigning monarch, died last week.

The Philippine peso has also risen 0.2 percent as sentiment

improved on optimism that Duterte's foreign visits would create

an inflow of business.

China and the Philippines will sign $13.5 billion in deals

during the president's trip to China this week, Trade Minister

Lopez said on Thursday.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0545 GMT

Currency Latest bid Previous day Pct Move

Japan yen 103.89 103.96 +0.07

Sing dlr 1.3934 1.3921 -0.09

Taiwan dlr 31.650 31.530 -0.38

Korean won 1135.60 1127.50 -0.71

Baht 35.13 34.99 -0.41

Peso 48.320 48.100 -0.46

Rupiah 13040 13005 -0.27

Rupee 66.87 66.81 -0.09

Ringgit 4.1900 4.1810 -0.21

Yuan 6.7566 6.7457 -0.16

Change so far in 2016

Currency Latest bid End prev year Pct Move

Japan yen 103.89 120.30 +15.80

Sing dlr 1.3934 1.4177 +1.74

Taiwan dlr 31.650 33.066 +4.47

Korean won 1135.60 1172.50 +3.25

Baht 35.13 36.00 +2.47

Peso 48.32 47.06 -2.61

Rupiah 13040 13785 +5.71

Rupee 66.87 66.15 -1.07

Ringgit 4.1900 4.2935 +2.47

Yuan 6.7566 6.4936 -3.89

(Reporting by Jongwoo Cheon; Editing by Jacqueline Wong)