Updates as of 0741 GMT

By Rishav Chatterjee

April 21 (Reuters) - Emerging Asian currencies strengthened on Monday as renewed pressure on the dollar, this time from President Donald Trump's criticism of the Federal Reserve, deepened concerns over central bank independence and added to uncertainty in global markets.

The Thai baht THB=TH led regional gains, just shy of its early October high, while the Singapore dollar SGD= rose 0.5% to 1.3040, its strongest level in six months.

The dollar =USD slid to a three-year low after the Trump administration criticised Fed Chair Jerome Powell last week and floated the idea of firing him.

"It not only undermines the principle of central bank independence, but risks politicising the US monetary policy in a way that markets will find unsettling," OCBC analysts said in a note.

Safe-haven gold got a lift, hitting a fresh high during the day and giving the Thai baht a boost. Thailand is a major regional gold trading hub and is about to enter trade negotiations with the U.S. on April 23, according to local media reports.

The Philippine peso PHP= and Taiwan dollar TWD=TP edged higher while the Malaysian ringgit MYR= hit its highest level since late January.

The Indonesian rupiah IDR= lagged its peers to trade flat ahead of Bank Indonesia's policy meeting on Wednesday, where the central bank is expected to keep rates unchanged.

"We think the BI ultimately remains dovish and should cut rates at some point this year, but IDR weakness is constraining the central bank at this point in time," said Michael Wan, a senior currency analyst at MUFG.

The rupiah has been the worst-performing currency among its peers this year as investors price in the effects of the trade war on Southeast Asia’s largest economy. It has a potential 32% levy looming on key exports including palm oil, apparel, and footwear.

Equity markets in emerging Asia were mostly mixed while U.S. stock futures slumped on Monday.

Shares in Taipei .TWII fell 1.5%, tracking the plunge in U.S. futures. Stock markets in Bangkok .SETI dragged 1.4% while the benchmark index in Jakarta .JKSE was trading 0.2% higher.

Stocks in the city-state of Singapore .STI gained 1.1%. The benchmark stock market has significantly outperformed regional peers over the past three months, attracting investors with its fiscal stability and compelling returns.

Shares in Mumbai .NSEI logged their highest levels since January 6, led by a gain in top financials HDFC Bank HDBK.NS and ICICI Bank ICBK.NS.

HIGHLIGHTS:

** Indonesia books larger-than-expected $4.3 billion trade surplus in March

** Malaysia Airlines eyes new Boeing jets should China reject them

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Nivedita Bhattacharjee and Sherry Jacob-Phillips)

((Rishav.Chatterjee@thomsonreuters.com;))