Asia Currency Lower as risk appetite wanes
Asian currencies slipped on Tuesday
against a firmer dollar as political uncertainty in Britain and
the eurozone bogged down their respective currencies - shifting
focus to the greenback.
Sterling slipped after a poll showed British Prime
Minister Theresa May's lead over the opposition Labour Party in
upcoming elections dropped to 6 percentage points.
The euro fell on concerns over a bailout for
Greece, as eurozone finance ministers failed to agree with the
International Monetary Fund last week on Greek debt relief.
"A few polls in the UK highlighted what the market thought
would be a soft Brexit turned out to be a hard Brexit," said
Stephen Innes, a senior trader for currency broker OANDA. "This
risk environment is weighing negatively on global sentiment."
The dollar index moved up 0.33 percent as at 0632 GMT
against a basket of currencies.
The Singapore dollar was down about 0.12 percent
against the dollar, extending its losses from Monday to fall to
its lowest in nearly a week.
"There's a bigger relation with the RMB complex," said
"Since the PBOC has been guiding the stronger fixes since
last week, coupled with a ridiculous carry that has been imposed
on the short CNH positions, the Singapore dollar is
piggybacking movements on the underlying RMB."
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