Most Asian currencies edged higher against the dollar on Thursday, with the rupiah touching a four-week high after Moodys Investors Service upgraded Indonesias credit rating outlook to positive from stable. 

 Earlier in the session, the rupiah touched 13,280 per dollar, its strongest level since Jan. 12. It ended 0.1 percent higher at 13,310. 

The outlook upgrade by Moodys late on Wednesday follows a similar move by Fitch in December. 

On a standalone basis, the shift in Moodys outlook may not be of much impact given that they already have Indonesias credit rated above investment grade, analysts at Citi said in a research note.

Some investors may see this as increasing the probability of a rating upgrade by S&P... That may encourage better sentiment, the analysts added.
    
S&P is the only major global ratings agency that still rates debt of Southeast Asias largest economy below investment grade, but analysts think it may soon join in. 

Some major institutional investors require investment grade ratings from all three agencies to buy a countrys debt.
    
Most other Asian currencies edged higher against the dollar.
    
Chinas yuan firmed against the dollar as sliding U.S. bond yields weighed on the greenback, although traders said talk of further falls in the Chinese currency may intensify over the short term. 
    
The South Korean won also eked out gains, although it traded in a narrow range as investors took a cautious stance ahead of a meeting between U.S. President Donald Trump and Japans Prime Minister Shinzo Abe coming up on Friday. 
    
Fridays summit between Trump and Abe could have a significant influence on Japans yen, sending ripples to other Asian currencies such as the won.
    
Overall, market participants seem cautious toward buying the dollar at this point as they seek further details on Trumps pro-growth fiscal policies, said Stephen Innes, senior trader for FX broker OANDA in Singapore.
In the meantime, investors seem to be putting money back into Asian assets, he said. Investors cant just sit back and wait, Innes added.