USD/SGD Teaters on Edge of Downtrend Channel

        0248 GMT [Dow Jones] USD/SGD looks poised to soon take on a bearish technical bias, with the U.S. dollar veering into the Bollinger downtrend channel that begins at 1.2496. A Tuesday close below that level would confirm the activation of a downtrend channel that could weigh USD/SGD down to the round-figure trading barrier at 1.2400 in the near term. The U.S. dollar has been under pressure as the benchmark U.S. 10-year Treasury yield trades near its year-low. Unless the U.S. government bond yields stage a sustained turnaround, the greenback may continue to slip broadly. USD/SGD is now 1.2506 versus its Monday close of 1.2495. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 05, 2014 22:48 ET (02:48 GMT)