Singapore Dollar Drops To More Than 2-week Low Against The U.S. Dollar
December 23 2014 - 1:10AM
RTTF2
The Singapore dollar weakened against the U.S. dollar in the
Asian session on Tuesday.
Meanwhile, data from the Ministry of Trade and Industry showed
that Singapore's consumer prices declined 0.3 percent year-on-year
in November, faster than an expected 0.2 percent decline. This
follows a 0.1 percent rise in October. Consumer prices entered the
negative zone for the first time since December 2009.
On a monthly basis, consumer prices rose 0.3 percent in
November, in contrast to a 0.4 percent fall in the prior month.
Against the greenback, the Singapore dollar fell to more than a
2-week low of 1.3224. At yesterday's close, the Singapore dollar
was trading at 1.3179 against the greenback.
If the Singapore dollar extends its downtrend, it is likely to
find support around the 1.33 area.
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