Monetary Authority of Singapore Endorses Faster Singapore Dollar Rise

October 14, 2010

The semi-annual S$ review gave a thumbs-up to the policy of gradual trade-weighted currency appreciation and in fact steepened the potential pace of that advance.  GDP had contracted in Singapore during the third quarter but will record faster growth in 2010 than even China achieves.  The Review published today finds the slower pace of growth […] More

Dollar Sinks, Touching or Breaking Several Key Thresholds

October 14, 2010

The dollar has weakened 0.8% against the yen, euro, pound and Swiss franc.  It has also lost 0.5% against the Australian dollar, 0.3% versus the Canadian dollar, and 0.2% against the Chinese renminbi.  The kiwi is steady. The dollar sank to another 15-year yen low of JPY 80.89.  The euro got as high as $1.4123, […] More

Revaluation of Singapore Dollar

April 14, 2010

Authorities at the Monetary Authority of Singapore (MAS) acted before their Beijing counterparts, releasing a statement today that re-centers the currency trading band on present market Singapore dollar levels, which had been above the prior level.  More importantly, the bias on that currency band will no longer be zero but rather modestly and gradually upward.  […] More