SINGAPORE--The Singapore dollar strengthened slightly Tuesday alongside many Asian peers as investors welcomed Federal Reserve Chairwoman Janet Yellen's assurances that interest rates would be kept low to support the U.S. economic recovery.
Having changed hands at S$1.2604 late Asia Monday, the U.S. dollar fell below the S$1.2600 level and bottomed at S$1.2572, but didn't show any impetus for further losses in a relatively quiet session.
Maybank expects the U.S. dollar-Singapore dollar pair to trade in a range, as "downside risks are dissipating, suggesting little directional clarity ahead."
The house pegs S$1.2560 as support, with resistance at S$1.2615.
Singapore government bonds were little changed across the yield curve.
