WSJ:Singapore Dollar Flat Late on Lack of Market Cues
Latest Change
USD/SGD 1.2313 -0.0003
Overnight Rate 0.05% -1 bp
2-Year Bond Yield 0.21% +1 bp
10-Year Bond Yield 1.47% Unchanged
2-Year Swap Offer 0.48% Unchanged
10-Year Swap Offer 1.76% +1 bp
2-10-Year Swap Curve 128 bps +1 bp
SINGAPORE--The Singapore dollar was flat on Tuesday in quiet trade with few domestic or external cues.
The U.S. dollar was changing hands at S$1.2313 late in Asia from 1.2311 late Monday in New York.
A light data calendar this week should keep the Singapore currency in a tight range although a surprise in China April trade or inflation figures due on Wednesday and Thursday, respectively, could influence the Singapore dollar if these have an impact on the Chinese yuan daily U.S.-dollar fixing rate, Maybank head of foreign exchange research Saktiandi Supaat said.
The Singapore unit could claw back some losses against the Malaysian ringgit after traders turned bullish on the Malaysian currency following elections that kept the Barisan Nasional ruling coalition intact, Mr. Supaat said.
The Singapore dollar could rise back to around MYR2.4500 from its current levels of around MYR2.4180, he said.
Singapore government bonds were little changed Tuesday.
Write to Martin Vaughan at martin.vaughan@dowjones.com