WSJ:Singapore Dollar Up Late On Stronger Data, But Caution Remains
Latest Change
USD/SGD 1.3045 -0.0037
Overnight Rate 0.06% +3 bps
2-Year Bond Yield 0.32% -1 bp
10-Year Bond Yield 1.63% +1 bp
2-Year Swap Offer 0.69% -1 bp
10-Year Swap Offer 2.27% +5 bps
2-10-Year Swap Curve 158 bps +6 bps
SINGAPORE (Dow Jones)--The Singapore dollar was higher late in Asia on Friday after key local and regional data came in stronger than expected and prompted a little more risk taking among traders.
The U.S. dollar was changing hands near S$1.3045 in the closing moments of Asian trade, compared with S$1.3082 late Thursday.
The Singapore dollar found support from government data that showed that Singapore's non-oil domestic exports rose 1.6% on year in November after two months of contraction.
Still, the U.S. dollar has gained 0.9% so far this week as markets, disappointed with the progress made by European leaders last week to solve the region's sovereign debt crisis, sought the relative safety of the greenback.
The "overall sentiment remains cautious, and the thin liquidity in this period could exacerbate price movements as well," said Ho Woei Chin, an economist at United Overseas Bank. She tipped the U.S. dollar to trade within a S$1.3000-S$1.3080 band for the rest of the global day.
Singapore government bonds were mixed with yield on the 10-year rising one basis point to 1.63% after a sharp fall yesterday while that on the two-year fell one basis point to 0.32%.
-By Gaurav Raghuvanshi; Dow Jones Newswires; +65 64154 154; gaurav.raghuvanshi@dowjones.com