SGD USD: Singapore Dollar Trades Around Ten-Year High on Policy Outlook

Singapore’s dollar advanced to its strongest in almost a decade as traders weighed the difference between the local monetary authority’s relatively hawkish policy outlook compared with that of the Federal Reserve.

The local dollar hit levels last seen in 2014 against the greenback late Friday, and fluctuated around the 1.30 per dollar in early trading Monday. Singapore’s currency has gained about 1.5% this year, the second-best performer in Asia behind Malaysia’s ringgit.