Singapore Dollar Gains Slightly After Sharp Fall Last Week

 
                       Latest   Change 
 USD/SGD               1.3692   -0.0027 
 Overnight Rate        0.31%    +18 bps 
 2-Year Bond Yield     0.97%    Unchanged 
 10-Year Bond Yield    2.64%    -2 bps 
 2-Year Swap Offer     1.52%    +2 bps 
 10-Year Swap Offer    2.81%    -1 bp 
 2-10-Year Swap Curve  129 bps  -3 bps 
 

        SINGAPORE--The Singapore dollar recovered from a four-month low against the U.S. dollar on Monday as investors believed the U.S. currency's gain in recent sessions was a tad overdone.
        The U.S. dollar was quoted at S$1.3692 near the close of the Asian trading session, compared with S$1.3715 at about the same time on Friday.
        The U.S. dollar slipped against several other currencies, including the Japanese yen and the Australian dollar. However, analysts believe the U.S. currency will remain well supported in the coming months.
        The markets are likely to look at the meeting of the rate-setting committee of the U.S. Federal Reserve later this week for indications on when the it might start raising rates.
        Most analysts still believe the Fed will announce the start of the so-called "rate normalization" cycle in September.
        Singapore government bonds were mixed, with yields on the benchmark 10-year bond lower by 0.02 percentage point to 2.64%, while that on the two-year bond was unchanged at 0.97%.
        Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com
        (END) Dow Jones Newswires

        July 27, 2015 05:56 ET (09:56 GMT)

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