EM ASIA FX-Asian currencies slip as Brexit pause dents risk appetite

* Some Asian currencies gain against the pound * Dollar firms, as U.S. bond prices rise * South Korean won leads losses ahead of GDP data on Thursday (Adds text, updates prices) By Nikhil Nainan Oct 23 (Reuters) - A global shift into less risky assets weighed on most Asian currencies on Wednesday, and propped up the U.S. dollar, as new hurdles over Britain's departure from the European Union kept investors on edge. U.S. Treasury yields dropped overnight as investors bought safe-haven debt after British lawmakers on Tuesday voted against Prime Minister Boris Johnson's tight timetable to leave the EU, but agreed to his Brexit plan. The latest defeat effectively makes it near to impossible for Johnson to stick to his Oct. 31 deadline for Britain to leave the EU with a deal. Despite dollar strength, some Asian units gained against the pound, which edged lower against the uncertain backdrop. The Chinese yuan gained 0.3% against the pound, while the peso advanced 0.2% to sterling. Elsewhere, consumer prices in Malaysia rose at a slower pace than expected in September, reinforcing some views that the country's central bank may cut interest rates again this year. "While inflation continues to be subdued, some weak signals emerged recently from the Malaysian economy, which had otherwise been outperforming the region," ING said in a note prior to the data, adding that there may be a pre-emptive cut this quarter. The ringgit eased 0.1% against the dollar. Not far away, Singapore's core inflation rate rose slightly less in September than it did the previous month, hitting a more than three-year low. The Singapore dollar also weakened 0.1%. Hopes of a U.S.-China trade deal helped limit losses for the yuan, traders said. The currency edged 0.1% lower. The Philippine peso moved in the other direction, strengthening 0.1%. ING said hefty government spending in September "should be a boost for the economy in the second half of the year. If so, we could imagine the BSP taking a backstep on further policy easing." The rupiah was flat on Wednesday, a day after it registered strong gains on the back of reports of the country's new cabinet that spurred hopes of reforms aimed at boosting growth and investment. Indonesia's central bank is expected to cut interest rates on Thursday at its policy meeting. Markets in Thailand were closed for a holiday. SOUTH KOREA'S WON South Korea's economy is expected to grow at a slower pace in the third quarter than it did in the second as the trade-reliant nation deals with a prolonged U.S.-China trade war and a diplomatic tussle with neighbour Japan. The won was the worst performer, dropping 0.3% against the dollar ahead of the data on Thursday. Last week, South Korea's central bank cut its policy interest rate for the second time in three months and left the door open for further easing. The next and last policy meeting of 2019, is on Nov. 29. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 108.390 108.47 +0.07 Sing dlr 1.364 1.3623 -0.09 Taiwan dlr 30.615 30.594 -0.07 Korean won 1173.700 1169.7 -0.34 Peso 51.150 51.2 +0.10 Rupiah 14040.000 14037 -0.02 Rupee 70.915 70.93 +0.02 Ringgit 4.192 4.187 -0.11 Yuan 7.083 7.0778 -0.07 Change so far in 2019 Currency Latest bid End 2018 Pct Move Japan yen 108.390 109.56 +1.08 Sing dlr 1.364 1.3627 -0.06 Taiwan dlr 30.615 30.733 +0.39 Korean won 1173.700 1115.70 -4.94 Baht 30.290 32.55 +7.46 Peso 51.150 52.47 +2.58 Rupiah 14040.000 14375 +2.39 Rupee 70.915 69.77 -1.61 Ringgit 4.192 4.1300 -1.47 Yuan 7.083 6.8730 -2.96 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Jacqueline Wong)