FX: Singapore dollar sinks further against the USD
The Singapore dollar weakened against the U.S. dollar Tuesday, with investors looking to comments expected later in the day from U.S. Federal Reserve officials for possible policy hints.
The U.S. dollar was quoted at S$1.4247 late in the Asian day, compared with S$1.4224 around the same time a day earlier.
“A relatively quiet economic calendar in European trading hours is likely to see investors looking ahead to Fed-speak for new direction cues,” said DailyFX strategist Ilya Spivak. San Francisco Federal Reserve Bank President John Williams and Kansas City Federal Reserve Bank President Esther George are scheduled to speak later Tuesday.
Mr. Spivak said the U.S. central bank officials’ remarks would be carefully analyzed after the country’s significantly weaker-than-expected jobs data released Friday.
Singapore government bond yields were mixed Tuesday. The yield on the benchmark 10-year Singapore government bond rose 0.05 percentage point to 2.39%, while that on the two-year bond fell 0.02 percentage point to 1.22%. Bond yields move inversely to their prices.
