22 Jul '11, 11am

The Singapore dollar reaches a new high against the U.S. dollar. See where the currency is expected to go.

EM ASIA FX-Sing dlr, won rally on Greek deal; intervention caps Topics: International Economy Government and Policy On Friday 22 July 2011, 16:54 SGT * Sing dlr at record on models, leveraged names; MAS spotted * S.Korea estimated to have bought $500 mln-$1 bln to defend 1,050/dlr * Ringgit up on lack of intervention (Updates text, prices) By Jongwoo Cheon SINGAPORE, July 22 (Reuters) - The Singapore dollar rose to a new record and the South Korean won hit a near three-year peak on Friday as a European package to rescue Greece led investors to buy emerging Asian currencies, despite intervention by Asian authorities and technical signs being overbought. On Thursday, euro zone leaders agreed on a second rescue package for Greece, alleviated worries about contagion risks, which have put a brake on the regions forex markets. Investors say they are waiting to see if U.S. politi...

Full article: http://sg.finance.yahoo.com/news/EM-ASIA-FX-Sing-dlr-rall...

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