Singapore Dollar Rises To 3-day High Against U.S. Dollar
January 15 2015 - 2:47AM
RTTF2
The Singapore dollar strengthened against the U.S. dollar ahead
of European session on Thursday.
In economic news, data from the Department of Statistics showed
that Singapore's retail sales growth slowed at a
faster-than-expected pace in November. Retail sales advanced 6.5
percent year-on-year in November, slower than October's 8.2 percent
climb. Economists had forecast the rate of growth to ease to 7.0
percent.
On a monthly basis, retail sales fell 0.7 percent in November,
exceeding economists' expectations for a 0.2 percent slight
decline. In October, sales plunged 1.2 percent.
Against the greenback, the Singapore dollar rose to a 3-day high
of 1.3313 from an early low of 1.3350. At yesterday's close, the
Singapore dollar was trading at 1.3339 against the greenback.
If the Singapore dollar extends its uptrend, it is likely to
find resistance around the 1.32 area.
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