Singapore currency falls 0.5% from over 2-year high as US dollar rebounds

The Singdollar weakened 0.5 per cent to 1.3436 per US dollar as of 2:45pm on Monday.
The Singdollar weakened 0.5 per cent to 1.3436 per US dollar as of 2:45pm on Monday. PHOTO: REUTERS

SINGAPORE - The US dollar rebounded on Monday (Sept 11) as geopolitical tensions in the Korean peninsula eased and concerns over Hurricane Irma subsided, sending the Singapore currency off a 26-month high.

The greenback climbed 0.2 per cent against a basket of currencies from a 32-month low hit on Friday after North Korea marked its 69th anniversary of its founding with a huge celebration for its nuclear scientists and technicians rather than another missile or nuclear test.

The Singdollar weakened 0.5 per cent to 1.3436 per US dollar as of 2.45pm on Monday from its close on Friday of 1.3367. The Singapore unit had advanced 7.4 per cent against the US currency to date this year as of Friday.

The yen dropped 0.7 per cent to 108.38 to the greenback from Friday's 10-month low of 107.32 yen.

The Australian dollar fell from a 2.5 year peak of US$0.8125 to US$0.8046.

The euro eased to US$1.2015, having hit a high of US$1.2092 on Friday amid speculation the European Central Bank was closer to begin the winding back of its stimulus programme.