SINGAPORE--The Singapore dollar remained mired in range trade Monday as investors stayed on the sidelines ahead of a potential U.S. government shutdown amid a congressional budgetary stalemate.
The U.S. dollar traded mainly between S$1.2550 and S$1.2580 in a lackluster session, having changed hands at S$1.2563 late in Asia Friday.
"Fed-taper chatter may take a back seat to the fiscal drama likely to unfold this week. Nonetheless, investors may continue to take the view that any taper would be delayed if fiscal uncertainty heightens," OCBC said in a note.
Maybank expects a potentially volatile week for the U.S. dollar-Singapore dollar pair, citing uncertainties over the U.S. budget debate and a festering political crisis in Italy. It pegged a S$1.2498 to S$1.2632 range for the U.S. dollar.
