SINGAPORE--The Singapore dollar fell against the U.S. dollar in Asia on Tuesday as regional markets got the jitters about the prospect of the Federal Reserve winding down its quantitative easing program.
The U.S. dollar peaked at S$1.2801 on Tuesday, the highest since July 9, before easing a bit to S$1.2765 toward the end of the Asian trading day. The dollar was quoted at S$1.2735 on Monday evening.
The U.S. dollar's fresh resistance level is near S$1.2820 with support near the S$1.2700 psychological level.
The U.S. dollar was largely unchanged against major currencies, but rose against the units of some emerging economies as rising U.S. interest rates and sliding stocks led to outflows from the region.
Longer-dated Singapore government bonds rose a bit as market uncertainty attracted some investors to their relative safety. Yield on the benchmark 10-year Singapore government bond fell by three basis points to 2.60% on Tuesday, after climbing five basis points on Monday. Yield on the two-year bond was unchanged at 0.24%.
