Singapore Dollar Falls To 4-day Low Against U.S. Dollar
July 24 2015 - 1:42AM
RTTF2
The Singapore dollar weakened against the U.S. dollar in the
late Asian session on Friday, after data showed that the nation's
industrial production declined for the fifth straight month in June
at a faster-than-expected pace.
Data from the Economic Development Board showed that Singapore's
industrial production decreased notably by 4.4 percent
year-over-year in June, much faster than economists' expectations
for a 0.4 percent slight drop. In May, production had fallen 1.7
percent.
On a monthly basis, industrial production fell a seasonally
adjusted 3.3 percent in June, confounding economists' expectations
for a 1.7 percent climb. In May, output grew 2.5 percent from
April.
Against the greenback, the Singapore dollar fell to a 4-day low
of 1.3725 from an early high of 1.3677. At yesterday's close, the
Singapore dollar was trading at 1.3688 against the greenback.
If the Singapore dollar extends its downtrend, it is likely to
find support around the 1.38 area.
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