Singapore Dollar Falls Further Against U.S. Dollar; Little Impact from Greece

 
                       Latest   Change 
 USD/SGD               1.3525   +0.0032 
 Overnight Rate        0.13%    Unchanged 
 2-Year Bond Yield     0.80%    +4 bps 
 10-Year Bond Yield    2.64%    +5 bps 
 2-Year Swap Offer     1.40%    +4 bps 
 10-Year Swap Offer    2.89%    +6 bps 
 2-10-Year Swap Curve  149 bps  +6 bps 
 

        SINGAPORE--The Singapore dollar fell against the U.S. dollar over the weekend and into Monday, as investors cheered a tentative deal between Greece and its creditors but did little to alter their foreign exchange positions.
        One U.S. dollar fetched 1.3525 Singapore dollars near the end of the Asian trading session, compared with S$1.3493 around the same time Friday.
        In the afternoon Singapore time on Monday, Greece concluded a round of talks with its creditors with what seemed like an early deal, a move that could increase global risk appetite. Towards the end of the trading day, however, there was little in the way of currency impact and the U.S. dollar held on to recent gains, even strengthening slightly after the news.
        "While the immediate downward pressure [for the USD/SGD pair] has eased somewhat, the recovery from the low is still viewed as part of a broad consolidation," UOB said in a note. It said it expects sideways trading in the short term.
        Singapore government bond yields extended a recovery, implying falling prices. Yields on benchmark 10-year Singapore government bonds rose 0.05 percentage point to 2.64%, while those on the two-year bond rose by 0.04 percentage point to 0.80%.
        Write to Jake Maxwell Watts at jake.watts@wsj.com
        (END) Dow Jones Newswires

        July 13, 2015 05:50 ET (09:50 GMT)

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