Singapore Dollar Slips To Near 5-week Low Against U.S. Dollar
May 26 2015 - 1:59AM
RTTF2
The Singapore dollar weakened against the U.S. dollar in the
late Asian session on Tuesday.
In economic news, data from the Economic Development Board
showed that Singapore's industrial production fell 8.7 percent
year-over-year in April, following a 5.5 percent drop in March.
Economists had expected a 3.6 percent decrease for the month. This
was the third consecutive decline in output.
Month-on-month, industrial production decreased a seasonally
adjusted 5.8 percent in April, while economists' expected for a 1.1
percent increase.
Against the greenback, the Singapore dollar fell to nearly a
5-week low of 1.3477 from a early high of 1.3405. At yesterday's
close, the Singapore dollar was trading at 1.3422 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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