Singapore Dollar Regains Against U.S. Dollar After Payrolls Data

 
                       Latest   Change 
 USD/SGD               1.3474   -0.0048 
 Overnight Rate        0.20%    -5 bps 
 2-Year Bond Yield     0.81%    -3 bps 
 10-Year Bond Yield    2.72%    +1 bp 
 2-Year Swap Offer     1.41%    -1 bp 
 10-Year Swap Offer    2.89%    -1 bp 
 2-10-Year Swap Curve  148 bps  Unchanged 
 

        SINGAPORE--The Singapore dollar gained on Friday, recovering slightly against the U.S. dollar ahead of a critical weekend for Greece and its impact on currency markets.
        One U.S. dollar was quoted at 1.3474 Singapore dollars in late Asian trade, compared with S$1.3522 around the same time on Thursday.
        The strength in the Singapore currency was partly driven by weaker-than-expected jobs growth in the U.S., a data point seen as critical in influencing the U.S. Federal Reserve's monetary policy.
        Over the weekend, Greece is scheduled to hold a referendum on whether to accept bailout terms from its creditors, a move that has the potential to eject the country from the eurozone, or Greece's government from power. The outcome, either way, is likely to be felt in currency markets.
        Meanwhile, in the government securities market, longer-dated 10-year bond yields rose 0.01 percentage point to 2.72%, while the two-year yield fell 0.03 percentage point to 0.81%.
        "Market reaction to US non-farm payrolls conflates with Greek event risk and without a definitive guide, the Singapore Government Securities curve remains driven by idiosyncratic factors," UOB notes. Bond yields move inversely to their prices.
        Write to Jake Maxwell Watts at jake.watts@wsj.com
        (END) Dow Jones Newswires

        July 03, 2015 06:18 ET (10:18 GMT)

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