Singapore dollar loses ground to the greenback

The local currency trades at $1.2210.

IG Markets Singapore said:

The Singapore dollar lost slight ground to the greenback last night in a mixed session for risk assets.

Traders were buoyed by a slew of upbeat data on the jobs, consumer confidence and manufacturing front out of the US.

But there is still a strong sense of caution among FX traders ahead of tonight’s non-farms payroll numbers and disruption since Hurricane Sandy.

The local currency trades at $1.2210 this morning in what looks set to be a positive session for Asian markets.

But taking on more Asian currency exposure takes a brave heart with US elections looming next week.

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