The Singapore dollar had one of the best weekly performances since the beginning of the year as optimism towards the domestic and regional economies improved, allowing the Singaporean currency to gain towards the weekend.
The Singapore dollar gained against the U.S. dollar for the second day today as the traders reduced their bets that the monetary authorities are going to use the currency depreciation to stimulate the economy.
Singapore dollar declined for the sixth day against they U.S. dollar today as the country’s monetary authorities will probably use the weak national currency as a stimulus for the export-producing economy.
The Asian currencies fell this week as the oil prices surged and the rising inflation concerns forced foreign investors to cut the inflow of liquidity into this region.
The Singapore currency had its worst week in a year on the Forex market, as it lost along with the other Asian currencies to the U.S. dollar, because the investors began to expect that the U.S. interest rate will unchanged rather than lowered next time.
The Singapore dollar rose today during the Asian Forex trading session as the market analysts expected the Federal Reserve of U.S. to lower the interest rate at the next meeting, widening the rates difference for these two currencies.
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