The Singapore dollar weakened slightly against the U.S. dollar on Tuesday, in another wobbly day for regional currencies amid continued jitters over China’s economic health and market volatility.
The U.S. dollar was quoted at 1.4245 Singapore dollars near the close of the Asian trading session, compared with S$1.4232 late Monday. Most Asian currencies, including the Singapore dollar, were more stable after Monday’s volatility.
“Expect investor sentiment to remain somewhat sour on the back of the unfriendly equity/commodity backdrop, especially if Chinese equities continue to set the tone for global markets,” OCBC said in a note. The bank said it expects to see the USD/SGD pair to “continue to eye the 1.4300 threshold.”
Singapore government bond yields were little changed. The yield on 10-year bond fell 0.02 percentage point to 2.55%, while that on the two-year bond remained at 1.05%. Yields move inversely to prices.
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