INSIDE SINGAPORE: Currency Rebounds With Funds Buying Stocks
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Singapore dollar strengthens as currencies in Asia rebound from yesterday’s selldown and stocks in the region gain.
Alert: HALISTER1- The island’s currency gains 0.2% to 1.4185 per U.S. dollar; USD/SGD next support at 100-DMA of 1.4172
- MSCI Asia Pacific excluding Japan Index gains 0.5%, while benchmark Singapore stock index rises
- The pullback in USD/SGD last week highlights that key initial resistance levels are holding as confirmation of a deeper recovery phase is still lacking, according to JPMorgan note
- Resistance levels in 1.4240/70 zone includes 38.2% retracement of decline from January high
- Yield on 10-year bond yield falls 3bps to 2.25%
- Deutsche Bank favors June 2021 notes over October 2021 debt
- Six-month swap-offer rate, floating leg of SGD interest-rate swaps, rose to 1.21801% Tuesday, highest since Jan. 17
Source: BFW (Bloomberg First Word)
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UUID: 7947283