SINGAPORE--The Singapore dollar was little changed late in Asia Friday after the U.S. dollar clawed back in another day of volatility, ahead of trade data and a U.S. Federal Reserve policy meet.
The U.S. dollar was quoted at S$1.2528 in the last hour of trade in Asia, compared with S$1.2538 at around the same time Thursday. Earlier Friday, it touched a low of S$1.2478.
Global currency and equity markets have had a volatile two weeks due to uncertainty over whether the Fed intends to scale back its bond buying program.
"The uncertainty will be with us for a while. The Fed will have to say something about it to clear the air" at its June 18-19 meeting, said Suan Teck Kin, a currency analyst with United Overseas Bank.
The U.S. dollar is likely to be well supported as Singapore's external trade data due on Monday are unlikely to "look fantastic," said Mr. Suan, who tipped S$1.2415 support and S$1.2540 resistance for the rest of the global day.
Longer-dated Singapore government bonds gained Friday, pushing the yield on the 10-year bond lower by five basis points to 2.12%. The yield on the two-year bond stayed at 0.18%, flattening the yield curve.
Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@dowjones.com
