Latest Change USD/SGD 1.2700 +0.0015 Overnight Rate 0.06% +1 bp 2-Year Bond Yield 0.25% +1 bp 10-Year Bond Yield 2.57% +1 bp 2-Year Swap Offer 0.73% +2 bps 10-Year Swap Offer 2.86% +4 bps 2-10-Year Swap Curve 213 bps +2 bps SINGAPORE--The U.S. dollar edged higher against the Singapore dollar late Friday as the U.S. currency strengthened ahead of a meeting of the Federal Reserve's Federal Open Markets Committee next week. The U.S. dollar was quoted at S$1.2700 near the close of Asian trading compared with S$1.2685 around the same time Thursday. Earlier, it climbed to S$1.2714, the highest since Monday. The Fed's policy-setting FOMC is expected to decide whether to begin scaling back its massive bond-buying program this month. Many traders believe that tapering will start, but the size of any reduction and how the stock and currency markets will react are uncertain. Market sentiment was also boosted by diplomatic efforts to avert a U.S. military strike on Syria. Singapore government bonds were little changed, with the yield on both the benchmark 10-year and 2-year bonds rising by a hundredth of a percentage point to 2.57% and 0.25% respectively.

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