The Singapore dollar rose against the U.S. dollar in Asia on Monday after weaker-than-expected U.S. jobs data released over the weekend.
The U.S. dollar was quoted at S$1.4224 late in the Asian day, compared with S$1.4342 around the same time Friday before the release of the latest U.S. nonfarm payrolls data.
U.S. nonfarm jobs rose by 142,000 in September, compared with the 200,000 predicted by analysts polled by The Wall Street Journal. Any development, such as a downbeat data point, that raises the odds of a delay in a U.S. Federal Reserve rate increase typically puts the brakes on the U.S. dollar, even if only temporarily.
Singapore government bonds gained, in line with U.S. Treasurys. The yield on the benchmark 10-year Singapore government bond fell 0.08 percentage point to 2.34%, while that on the two-year bond fell 0.06 percentage point to 1.24%. Bond yields move inversely to their prices.
