Singapore dollar sits at $1.2493

The US dollar has been edging up against the local currency along with other major currencies, says IG Markets Singapore.

IG Markets Singapore said:

The US dollar has been edging up against the Singapore dollar along with other major currencies.

Traders are slowly repositioning themselves for a scenario that doesn’t include QE3.

This has seen the dollar strengthen as this realisation sets in.

The local currency has proved itself resilient to this trend, however it is starting to test its narrow $1.24 -$1.25 trading range.

This morning it sits at $1.2493 as more traders start to feel US economic data being released doesn’t support another round of asset-purchases.

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