Singapore Dollar Flats Against U.S. Dollar

 
                       Latest   Change 
 


USD/SGD               1.3764   +0.0002 
 Overnight Rate        0.20%    +1 bp 
 2-Year Bond Yield     0.97%    -5 bps 
 10-Year Bond Yield    2.60%    -3 bps 
 2-Year Swap Offer     1.54%    -4 bps 
 10-Year Swap Offer    2.76%    -5 bps 
 2-10-Year Swap Curve  122 bps  -1 bp 
 

        SINGAPORE--The Singapore dollar was almost unchanged against the U.S. dollar Monday, with the short-term focus now on U.S. economic data and speculation about monetary policy at the Federal Reserve.
        The U.S. dollar was quoted at S$1.3764 near the close of the Asian trading session, compared with S$1.3762 around the same time Friday.
        Traders are now closely watching the U.S. for signs of economic strength or weakness and its likely bearing on monetary policy. The consensus among analysts is for the Fed to raise interest rates in September, the main event for currency markets in the medium term.
        HSBC, however, says local factors are becoming more important in currency markets, rather than just whatever the U.S. dollar is doing. "It was a bumpy ride for [emerging market] FX in the first half of 2015, with many held hostage to broad USD strength and the steepening of core bond yields. Now these global factors are seen as having a benign influence on EM currencies," HSBC said. "It should mean that local factors play a larger role within EM FX."
        Singapore government bond yields were slightly lower, indicating rising prices. The yield on the benchmark 10-year bond fell 0.03 percentage point to 2.60%, while that on the two-year bond fell 0.05 percentage point to 0.97%.
        Write to Jake Maxwell Watts at jake.watts@wsj.com
        (END) Dow Jones Newswires

        August 03, 2015 05:46 ET (09:46 GMT)

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