Singapore dollar loses ground to the greenback
The local currency trades at $1.2210.
IG Markets Singapore said:
The Singapore dollar lost slight ground to the greenback last night in a mixed session for risk assets.
Traders were buoyed by a slew of upbeat data on the jobs, consumer confidence and manufacturing front out of the US.
But there is still a strong sense of caution among FX traders ahead of tonight’s non-farms payroll numbers and disruption since Hurricane Sandy.
The local currency trades at $1.2210 this morning in what looks set to be a positive session for Asian markets.
But taking on more Asian currency exposure takes a brave heart with US elections looming next week.