Latest Change USD/SGD 1.2523 +0.0016 Overnight Rate 0.05% +4 bps 2-Year Bond Yield 0.33% -2 bps 10-Year Bond Yield 2.30% -1 bp 2-Year Swap Offer 0.48% Unchanged 10-Year Swap Offer 2.64% +1 bp 2-10-Year Swap Curve 216 bps +1 bp SINGAPORE--The Singapore dollar drifted slightly lower against the U.S. dollar late Wednesday in Asia amid mixed signals from the U.S. economy, whose recovery is critical to the island nation's growth prospects. The U.S. dollar was quoted at S$1.2523 in the last hour of trade compared with S$1.2507 around the same time Tuesday. The U.S. dollar itself was lower against the euro after the U.S. consumer confidence index fell to 70.4 this month, well below the 73 level expected by economists polled by The Wall Street Journal. Housing and construction market data also released Tuesday, though, showed signs of stabilization in the sectors. The mixed data raised concerns about whether the U.S. economy is healthy enough for the Federal Reserve to begin reducing, or "tapering," its stimulus program next month. Singapore government bonds edged higher as investors sought safer assets. Yield on the benchmark two-year Singapore government bond fell 2 basis points to 0.33%, while that on the 10-year bond was lower by a hundredth of a percentage point at 2.30%.

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