Singapore Dollar Steady, May be Supported by Improved Risk Appetite
Dow Jones
10 hours ago
The Singapore dollar is steady against its U.S. counterpart, possibly supported by improved risk appetite after gains for U.S. stocks Monday.
Singapore's benchmark stock index is mostly flat Tuesday while Japan's Nikkei Stock Average is 1.9% higher and Korea's Kospi is up 3.4%.
The Singapore dollar remains extremely resilient through vacillations in the U.S. dollar and market sentiment, Maybank analysts say in a note.
They expect support for the U.S. dollar at 1.2750 Singapore dollars and S$1.2700 and resistance at S$1.2850. The U.S. dollar is little changed at S$1.2807, LSEG data show.
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