RTTN:Singapore Dollar Off 10-1/2-month Low Against U.S. Dollar
The Singapore dollar wiped out its early losses against the U.S. dollar and held steady in the Asian session on Thursday.
The Singapore dollar is now trading at 1.2678 against the greenback, off its early 10-1/2-month low of 1.2694. The pair ended Wednesday's deals at 1.2667.
In economic news, Singapore's gross domestic product was up a seasonally adjusted annualized 1.8 percent in the first quarter of 2013 compared to the previous three months, the Ministry of Trade and Industry said in today's revised reading.
That's sharply higher than last month's advanced estimate that showed a 1.4 percent contraction - although it's still down from the 3.3 percent increase in the fourth quarter of 2012.
