SINGAPORE--The Singapore dollar edged a little lower against the U.S. dollar Monday as the ongoing partial government shutdown in the U.S. cast its shadow on Asian markets.
Nearly a week into the shutdown, signs of economic damage are mostly limited to stalled contracts and lost tourism revenue. But the risk of a long closure is raising concerns among economists and executives.
The U.S. dollar, after falling sharply last week, stabilized near the end of the Asian trading day. The U.S. currency was quoted at S$1.2488 in the last hour of Asian trade compared with S$1.2468 around the same time on Friday.
Longer-dated Singapore government bonds were a little higher, with yield on the benchmark 10-year bond falling by 2 basis points to 2.35%. The yield on the two-year bond, however, rose by a hundredth of a percentage point to 0.37%
