Latest Change
USD/SGD 1.2641 -0.0054
Overnight Rate 0.13% unchanged
2-Year Bond Yield 0.17% unchanged
10-Year Bond Yield 1.34% +1 bp
2-Year Swap Offer 0.49% -3 bps
10-Year Swap Offer 1.68% +1 bp
2-10-Year Swap Curve 119 bps +4 bps
SINGAPORE--The Singapore dollar was stronger late in Asia Monday, as
Asian currencies found strong support in the improved investor
sentiment seen in the New York session late last week on the back of
better-than-expected U.S. corporate earnings.
However, analysts remain skeptical about the extent of any rally in
risk appetite this week as investor sentiment shifts toward the U.S.
macroeconomic landscape. Market activity was also subdued in the Asian
session, with Japanese markets closed for the Marine Day public
holiday.
"Expect Asian currencies to start the week on a somewhat supported
footing, but in the multisession, much will depend on global growth
prospects and risk appetite levels," OCBC Research said.
The house expects the greenback to hold a 1.26 to 1.27 Singapore
dollar range for the rest of the global session, with some bias to the
downside if risk appetite remains intact.
Longer-dated Singapore government bond yields, which have fallen
significantly over the past few weeks, were slightly higher as the
improved market sentiment helped unwind previous long positions.
Write to Sam Holmes at samuel.holmes@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
July 16, 2012 03:54 ET (07:54 GMT)
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