SINGAPORE--The Singapore dollar strengthened Monday amid broad dollar weakness induced by disappointing U.S. jobs data last week, and analysts say the local currency could retain its strength this week.
The U.S. dollar slipped as low as S$1.2662 after changing hands at S$1.2764 late in Asia Friday.
Monday's decline of the U.S. dollar-Singapore dollar pair "is clearly a result of the weaker-than-expected U.S. nonfarm payrolls data," ANZ currency analyst Khoon Goh said. "The pair is likely to trade heavy for the near term."
Mr. Goh pegged support for the U.S. dollar at S$1.2620, which may "be tested" later in the week, while resistance was seen at S$1.2720.
Longer-dated Singapore government bonds rose, tracking U.S. Treasury gains in the wake of the weak jobs data.
Write to Chun Han Wong at chunhan.wong@dowjones.com
