Singapore Dollar Falls To 1-month Low Against U.S. Dollar
May 25 2015 - 1:50AM
RTTF2
The Singapore dollar weakened against the U.S. dollar in the
late Asian session on Monday, after data showed that the nation's
consumer prices declined further in April.
Data from Ministry of Trade and Industry showed that the
consumer prices fell by 0.5 percent from last year, confounding
expectations for an increase of 0.1 percent. This was the sixth
consecutive fall in prices. In March, prices were down 0.3
percent.
Month-on-month, consumer prices dropped 0.6 percent reversing a
0.2 percent rise in March. Core consumer prices were down 0.3
percent compared to a 0.1 percent fall a month ago.
Against the greenback, the Singapore dollar fell to a 1-month
low of 1.3420. At Friday's close, the Singapore dollar was trading
at 1.3356 against the greenback.
If the Singapore dollar extends its downtrend, it is likely to
find support around the 1.338 area.
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