SINGAPORE (Dow Jones)--The Singapore dollar was weaker late Friday as resurgent worries about Greece and a pre-weekend round of profit-taking weighed on Asian currencies and equities markets.
Debt-stricken Greece on Thursday took steps to avoid a default, but euro-zone finance ministers withheld approval for a second bailout, saying the Greek parliament must approve new austerity policies and a package of economic overhauls before the euro zone can back a EUR130 billion loan deal for the government.
"There has been a bit of a run up over the week already and so I think some profit-taking is inevitable ahead of the weekend," a trader at a local bank says.
He said he expects the pair to trade in a 1.2370-1.2600 range for the rest of the global session.
Singapore government yields fell at the shorter end as euro-zone concerns pushed investors back to safe-haven assets.
-By Sam Holmes, Dow Jones Newswires; +65-6415-4157; samuel.holmes@dowjones.com
