SINGAPORE -- The Singapore dollar hit a five-month low and the South Korean won fell 1.0 percent on Friday as Asian currencies succumbed to the broad strength in the US dollar and heightened economic worries.

Other Asian currencies, such as the Philippine peso and Taiwan dollar also dropped more than half a percent each after strong US housing data and suggestions of growth worries in the euro zone bolstered the dollar.

The won fell to a one-month low near 1,028 per dollar, and South Korea's central bank was suspected of selling dollars to defend it.

"The combination of a stronger US dollar and a weak global consumption outlook spells trouble for Asian currencies and especially those whose exports have high leverage to developed economies demand," said Patrick Bennett, a strategist at Societe Generale.

The euro tumbled to a five-month low after European Central Bank President Jean-Claude Trichet's remarks, indicating euro zone growth could be weaker than anticipated, cooled market expectations for a rate rise in the European block.

Likewise, the Singapore dollar tumbled after Singapore Finance Minister Tharman Shanmugaratnam was quoted on television as saying it could take another year before the economic malaise bottoms out.

Bennett said the Singapore dollar was among the most vulnerable in the region, and could underperform even after its decline so far.

"Risks remain for further underperformance on prospects for soft growth and slower external demand," he said.

The currency hit 1.4015, breaching the 1.4 level for the first time since late February, as growth concerns outweighed expectations of the authorities allowing faster currency appreciation to tackle rising inflation.

The Singapore dollar has shed 4.0 percent of its value against the US dollar since mid-July.

"After Tharman's speech last night on the Singapore economy, US houses and funds were all stopped out," said a Singapore dollar trader.

"They are unwinding their structural US dollar shorts, which they sold two to three months ago."

Elsewhere, the Thai baht was relatively steady between 33.65 and 33.70, shrugging off the rising tensions between the finance ministry and central bank.

On Friday, Thai Finance Minister Surapong Suebwonglee and his deputy piled pressure on the central bank chief to switch interest rate policy to promoting economic growth rather than fighting decade-high inflation.

Surapong said he would not sack Governor Tarisa Watanagase but warned of consequences from their disagreement.