SINGAPORE--The Singapore dollar was confined in a narrow range against the U.S. dollar late on Wednesday on a general lack of trading cues.
The U.S. dollar was quoted at S$1.2639 in the last hour of Asian trade after trading between S$1.2632 and S$1.2657 for the day.
Weaker-than-expected Singapore industrial production data had little impact on the currency pair. Industrial output growth slowed to 3.9% on year in January from a revised 6.4% rise in December--below a median 6.5% growth forecast by five analysts in a poll by The Wall Street Journal.
The markets will look at the U.S. January new home sales to be released later Wednesday and a speech by Federal Reserve Chairwoman Janet Yellen to the Senate Banking Committee on Thursday.
Longer-dated Singapore government bonds rose in line with gains by U.S. Treasurys. Yield on the benchmark 10-year Singapore government bond fell 5 basis points to 2.50% though yield on the two-year bond was unchanged at 0.36%. Bond yields move inversely to prices.
