Latest Change USD/SGD 1.2557 +0.0020 Overnight Rate 0.06% +4 bps 2-Year Bond Yield 0.44% -1 bp 10-Year Bond Yield 2.39% Unchanged 2-Year Swap Offer 0.60% -1 bp 10-Year Swap Offer 2.61% -1 bp 2-10-Year Swap Curve 201 bps Unchanged SINGAPORE--The Singapore dollar weakened a little on Thursday against the U.S. dollar but traded largely without direction and within a narrow range. Investors held out for cues on the U.S. economy and a looming congressional debate over the federal budget. The U.S. dollar pushed as high as S$1.2562 from an intraday low of S$1.2521 but the U.S. dollar mostly moved between S$1.2530 and S$1.2560. The U.S. unit had changed hands at S$1.2537 late Asia on Wednesday. Singapore's release of lackluster industrial production data for August didn't help sentiment and pointed to a cloudy outlook for international demand and the domestic economy. "Expect market players to be cautious and trim risk ahead of a looming deadlock in U.S. Congress budget talks," OCBC said in a note. "Overall, we continue to detect an underlying hint of caution towards [emerging-market] asset markets (relative to the developed markets) despite the recent improvement in global risk appetite levels and we remain on the lookout for any further unraveling of fortunes for the Asian units," OCBC said. Maybank saw resistance for the U.S. dollar at S$1.2570 with support at S$1.2525. Singapore government bonds were little changed across the curve.

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