Singapore dollar was lower in late Asian trade

The Singapore dollar was lower in late Asian trade Friday, but traders said that investors weren’t placing big bets on the currency ahead of the U.S. employment data due overnight.

“There wasn’t much of an activity in the (currency) market. People are waiting on the sidelines to see what the U.S. numbers say,” said a trader with a foreign bank.

The trader said that if the data for May show signs of improvement, appetite for regional currencies will increase as it will be a sign that the global economy is recovering.

Another trader with a local bank said that even though the local currency was lower, it was well bid as the regional equities markets remained in positive territory most of the day.

Local government bonds were mixed, with players selling longer-dated maturities in favor of short-term bonds.

“Also, with equities market being healthy, there was a bit of selling in the bonds,” a trader with a local bank said.