Greenback hits 10-month high against Singdollar

THE United States dollar has risen rapidly against the Singapore dollar, up from $1.23 to $1.26 in the last two weeks alone.

Experts say the greenback's quickfire surge against a range of currencies, including Singapore's, reflects the booming US stock market as well as fresh hopes the Federal Reserve will soon slow its stimulus measures.

A stimulus slowdown will lift the US dollar, as it would mean the Fed printing less money and possibly hiking interest rates, thus making it more attractive to hold the greenback.

The greenback is now at a 10-month high against the Singdollar, and is tipped to gain more ground in the current quarter before easing slightly by year-end.