Latest Change USD/SGD 1.2414 -0.0046 Overnight Rate 0.03% -2 bps 2-Year Bond Yield 0.21% +4 bps 10-Year Bond Yield 1.58% unchanged 2-Year Swap Offer 0.54% -1 bp 10-Year Swap Offer 2.12% +1 bp 2-10-Year Swap Curve 158 bps +2 bps SINGAPORE (Dow Jones)--The Singapore dollar was trading at near six-month highs against the U.S. dollar late Thursday in Asia, after dovish noises from the U.S. Federal Reserve caused the greenback to weaken across the board. After its two-day policy meeting ended Wednesday, the Federal Reserve reaffirmed its commitment to low interest rates and Fed Chairman Bernanke left the door open to more policy easing if needed. The U.S. dollar "is likely to see a weak bias for now, as QE3 remains a possibility," UOB said in a note. The U.S. dollar was quoted at S$1.2414 late in the Asian trading session, recovering from an intraday-low of S$1.2399--its lowest level since Oct. 31, 2011--and compared with S$1.2460 late Wednesday. Domestic data showing manufacturing output in March contracted at a rate less severe than expected also helped the Singapore dollar extend its gains against the greenback. Output fell 3.4% year-on-year in March, compared to the 6.0% fall expected in a Dow Jones poll of 11 economists. The data reaffirmed the view that Singapore's economy remains resilient, giving the central bank room to prioritize curbing inflation with tighter policy. Analysts have said that the Monetary Authority of Singapore's policy tightening earlier this month could be repeated should inflation remain at current levels. -By Matthew Allen, Dow Jones Newswires; +65 64154 158; matthew.allen@dowjones.com

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