2012.06.06 10:04:25 CADES Sets Pricing On EUR500M Tap Of 2024 Bond At OAT +0.26

Latest Change USD/SGD 1.2781 -0.0098 Overnight Rate 0.13% Unchanged 2-Year Bond Yield 0.21% +1 bp 10-Year Bond Yield 1.40% +1 bp 2-Year Swap Offer 0.48% +4 bps 10-Year Swap Offer 1.85% +3 bps 2-10-Year Swap Curve 137 bps -1 bp By Gaurav Raghuvanshi SINGAPORE--The Singapore dollar gained against the U.S. dollar late in Asia on Wednesday as regional market sentiment was boosted by stronger economic growth data from Australia and the absence of further negative news from Europe. The U.S. dollar fell below its key support level of S$1.2800 to S$1.2776, its lowest level since May 29. Near the close of the Asian trading day, the greenback was quoted at S$1.2781 compared with S$1.2879 around the same time Tuesday. "The market has been long (U.S.) dollar-Asia and some positions are getting pulled back," said Khoon Goh, senior FX strategist at ANZ Bank in Singapore. Traders and analysts said the markets will likely look for fresh cues in a statement from European Central Bank later today and the U.S. Federal Reserve Chairman Ben Bernanke's speech Thursday. In Australia, strong mining investment and consumer spending resulted in a 1.3% rise in gross domestic product in the first quarter from the previous three-month period, according to the Australian Bureau of Statistics. Annual GDP growth in the 1.4 trillion Australian dollar (US$1.38 trillion) economy was 4.3%, the fastest pace in over four years. Goh, however, said "we are still in an environment where sentiment is fickle. The markets are likely to wait for the ECB tonight and whether Fed Chairman Bernanke opens the door for QE3." He put the next major support level for the U.S. dollar at S$1.2740. Singapore government bonds were slightly lower, in line with the slight improvement in market sentiment. Yields on both the benchmark 10-year and 2-year bonds rose by one basis point, or a hundredth of a percentage point, to 1.40% and 0.21%, respectively. Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@dowjones.com (END) Dow Jones Newswires June 06, 2012 04:04 ET (08:04 GMT)