SINGAPORE--The Singapore dollar strengthened slightly Tuesday to reach a three-week high, but didn't break out of its recent ranges as investors awaited global cues coming this week.
The U.S. dollar slipped as low as 1.2480 Singapore dollars--the U.S. currency's weakest level since April 14--late in the session, having traded around the S$1.2500 level for most of the day. The U.S. dollar had been quoted at S$1.2500 late Monday in Asia.
Analysts said geopolitical developments in Ukraine and economic data due from Europe and the U.S. could steer the market in the coming days.
UOB had pegged the U.S. dollar to trade between S$1.2443 and S$1.2506.
Longer-dated Singapore government bonds fell in line with U.S. Treasurys, paring some of their Monday gains.
