Singapore Dollar Returns to Strength Against Dollar

 
                       Latest   Change 
 USD/SGD               1.3636   -0.0052 
 Overnight Rate        0.25%    +15 bps 
 2-Year Bond Yield     1.26%    +2 bps 
 10-Year Bond Yield    2.18%    +1 bp 
 2-Year Swap Offer     1.51%    +1 bp 
 10-Year Swap Offer    2.39%    -1 bp 
 2-10-Year Swap Curve  88 bps   -2 bps 
 

        SINGAPORE--The Singapore dollar regained some ground against the U.S. dollar on Thursday to be among the best-performing Asian currencies for the day, as its recent run of strength continues.
        One U.S. dollar bought 1.3636 Singapore dollars late Thursday, compared with S$1.3688 at about the same time a day earlier.
        The Singapore currency has recovered from a run of losses that extends from July last year and pushed it to a 4.5 year low of S$1.3939 against its U.S. counterpart as recently as March 13. But revisions to economic forecasts at the U.S. Federal Reserve have helped prop it up again in the last week.
        Oversea-Chinese Banking Corp. says the USD/SGD pair is not likely to move significantly in the short term, however. "Expect rangebound behavior to persist within a S$1.3650-S$1.3750 neighborhood," OCBC said, "with the broad [U.S.] dollar's resilience in the region expected to put a near term floor on the pair intraday."
        Singapore government bond yields were slightly higher in the day, indicating lower prices. The yield on the two-year government bond rose by 0.02 percentage point to 1.26%, Thursday, while the longer-dated 10-year bond yield rose 0.01 percentage point to 2.18%.
        Write to Jake Maxwell Watts at jake.watts@wsj.com
        (END) Dow Jones Newswires

        March 26, 2015 05:57 ET (09:57 GMT)

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