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SGD surges 1% following mild easing by MAS

But with economic conditions still weak, short-lived rally expected

Published Wed, Oct 14, 2015 · 09:50 PM

Singapore

THE Singapore dollar (SGD) jumped one per cent higher on Wednesday following a surprise mild easing move by the Monetary Authority of Singapore (MAS).

But the rally is expected to be short-lived as economic conditions remain weak, said many analysts.

Within a minute of the release of the monetary statement at 8am, the USD/SGD was sold down from the 1.4058 level to the 1.3903 level, representing a 1.1 per cent decline, said United Overseas Bank (UOB).

By 4pm, the SGD sto…