During early deals on Tuesday, the Singapore dollar declined to a 5-day low against its US and Hong Kong counterparts. On the other hand, the Singapore currency climbed to multi-day highs against the European currency and the British pound.
The Singapore dollar touched a 5-day low of 1.5107 against the US during early Asian trading on Tuesday. The pair that closed Monday's North American deals at 1.5071 is currently quoted at 1.5093. On the downside, 1.518 is seen as the next target level for the Singapore currency.
The Singapore dollar showed strength against the British pound during Tuesday's early deals. At 8:15 pm ET, the Singapore currency hit a 4-day high of 2.2102 against the sterling, compared to Monday's closing value of 2.2261. On the upside, 2.19 is seen as the next target level for the Singapore dollar. The pair is presently trading at 2.2175.
The Singapore dollar that closed Monday's North American session at 2.0220 against the European currency reached a 5-day high of 2.0101 at 7:40 pm ET. The next upside target level for the Singapore currency is seen around 1.997 versus the euro. The pair is currently quoted at 2.0169.
The Singapore dollar edged down against the Hong Kong currency during early deals on Tuesday. At 8:05 pm ET, the pair touched a 5-day low of 5.1318, compared to 5.1427 hit late New York Monday. The pair is currently trading at 5.1346 with 5.08 seen as the next target level.
In the European session, the Italian February hourly wages, UK February industrial and manufacturing production data and the Euro-Zone final fourth quarter GDP report are slated for release.
Across the Atlantic, the U.S. Federal Reserve is expected to release its monthly consumer credit report at 3 pm ET. Consumer credit for February is likely to show a decline of $1.5 billion.
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