SINGAPORE--The Singapore dollar traded listlessly on Easter Monday after giving some of its recent gains against the U.S. currency ahead of economic data and possible policy cues this week.
The U.S. dollar drifted between S$1.2517 and S$1.2534 in a directionless session, though generally remained higher that the S$1.2495 level it was quoted at late Asia on Thursday.
Markets in Singapore were closed for the Good Friday holiday, and some of its Asian-Pacific peers--Australia, New Zealand and Hong Kong--stayed shut Monday.
"The [U.S. dollar-Singapore dollar] pair may continue to remain anchored around the S$1.2500 neighborhood pending further regional and global cues," OCBC said in a note. The U.S. is scheduled to release data on home sales and purchasing managers indexes, among others, this week.
Maybank, meanwhile, said that "scope for two-way action is possible but a sluggish dollar ahead could leave the pair within the [S$1.2430 to S$1.2570] range" this week.
Singapore is due to release inflation and industrial production data this week, but analysts say these numbers are unlikely to sway the local currency.
Singapore government bonds were unchanged in a quiet market.
