News Column

Singapore Dollar Extends Fall To 5-day Low Against US Dollar

July 14, 2014

SINGAPUR (Alliance News) - The Singapore dollar extended fall against the US dollar in the Asian session on Tuesday.

In the economic news, a report from Statistics Singapore showed that Singapore's retail sales rebounded more than expected in May, helped by improved performance of almost all categories. Retail sales grew 5.2% month-on-month in May, more than the 0.6% increase expected by economists. In April, sales had declined 0.7%.

On a year-over-year basis, retail sales fell 6% in May, a smaller decline than the 8.2% drop expected by economists, following a 9.1% fall in April.

Against the greenback, the Singapore dollar fell to a 5-day low of 1.2433. At yesterday's close, the Singapore dollar was trading at 1.2416 against the greenback.

If the Singapore dollar extends its downtrend, it is likely to find support near the 1.25 area.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters