USD/SGD Turns Bearish, Eyes 1.2400

        0145 GMT [Dow Jones] The USD/SGD has taken on a bearish technical bias after entering the daily Bollinger downtrend channel--which now caps at 1.2493--and may be on its way to the round-figure trading barrier at 1.2400. The USD/SGD continues to be weighted by the declining U.S. 10-year Treasury yield--currently near its 6-month low. Traders also sold the greenback on a cue from the euro rally late Tuesday that was triggered by upbeat euro-zone PMI data. The Ukraine crisis hasn't affected risk appetite much in currency markets, even though some have blamed the buying of U.S. Treasurys on possible geopolitical risk aversion. The USD/SGD is at 1.2471, from its last close of 1.2469. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 06, 2014 21:45 ET (01:45 GMT)