S$ continues to rise on accelerated US$ profit-taking

Singapore

THE Singapore dollar stayed on the rebound against the US dollar on Thursday in line with other currencies, reaching S$1.43 as dollar profit-taking gathers momentum.

At S$1.43, the Singdollar is up 1.4 per cent from S$1.45 on Tuesday, noted Philip Wee, DBS Bank senior currency strategist.

The dollar has been struggling since the waning days of 2016, and the profit-taking and correction is pretty much across the board, he said.

The dollar's index against a basket of six major currencies slipped to 102.20 after hitting a 14-year high of 103.82 on Tuesday, when a…