Singapore dollar shakes off last week's losses against the greenback

Singapore

THE Singapore dollar has already erased its losses from last week's surprise easing even as central banks worldwide face the limits of monetary policy in weakening a currency.

The Singapore dollar strengthened 1.5 per cent over the past three trading days, after dropping 0.9 per cent against the greenback on April 14, when the Monetary Authority of Singapore (MAS) shifted to a neutral stance.

The euro strengthened even after European Central Bank president Mario Draghi boosted the region's record stimulus last month, while the yen surged to the strongest in 17 months last week despite Bank of Japan governor Haruhiko Kuroda's introducing negative rates in January. New Zealand's dollar h…