Singapore Dollar Climbs To 8-day High Against Hong Kong Currency
15 July 2009 - 8:40AM
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The Singapore dollar traded higher against the Hong Kong
currency during early Asian deals on Wednesday. At 11:30 pm ET, the
pair reached an 8-day high of 5.3248, compared to 5.3080 hit late
New York Tuesday. If the Singapore currency gains further, 5.334 is
seen as the next target level.
Singapore will release retail sales figures for May. Forecasts
call for sales to drop 10.6 percent on year after the 11.7 percent
annual contraction in the previous month. Seasonally adjusted,
sales are called higher by 0.4 percent on month after dropping 3.1
percent a month earlier.
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