Singapore Dollar Strengthens Slightly, Buoyed by Strong Economic Data
Dow Jones08-17
0234 GMT - The Singapore dollar strengthens slightly against its U.S. counterpart in the Asian session, buoyed by economic data released earlier which showed Singapore's July non-oil exports climbed 24.2% on year. The data reinforce Singapore dollar's "support from the ongoing semiconductor upcycle," MUFG Bank's Lloyd Chan says in a research report. Also, the data highlight "the economy's continued leverage to the recovery in global technology demand," the senior currency analyst adds. The U.S. dollar is 0.1% lower at 1.2777 Singapore dollars, LSEG data show.
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