Southeast Asian Currencies Mixed Versus Greenback Monday Morning, Monday, July 02, 2007 9:51:13 AM
Southeast Asian currencies experienced mixed results against the American dollar Monday morning in New York. The Singapore dollar climbed to a six-week high versus the buck. Meanwhile, the Thai baht and Indonesian rupiah fell to the downside against their American counterpart.The Singapore dollar advanced to a six-week high against the greenback Monday morning in New York. The Singapore currency gained steadily through much of the early and mid-morning, reaching an intraday high of 1.5227 at 9:00 am ET. The Singapore dollar lost some of its gains over the next thirty minutes, trading at a mark of 1.5232 at 9:30 am. This is compared to an intraday low of 1.5300 at 12:30 am. Traders considered data showing that Singapore residential property prices grew at a faster pace during the second quarter over the prior period.
The Indonesian rupiah fell versus the American dollar Monday morning in New York. The Indonesian currency began to retreat around 2:30 am ET. At 6:30 am, the rupiah fell to an intraday low of about 9020.00 against its American counterpart. The Indonesian currency rebounded from some of its losses over the next couple hours. At 9:00 am, the rupiah traded at a mark of 9013.00 against the greenback. Investors mulled data showing that the Indonesian trade surplus was little changed in May over April, as both imports and exports rose.
The Thai baht retreated sharply against the greenback Monday morning in New York. The Thai currency advanced after 3:00 am ET, eventually reaching an intraday high of about 31.60 at around 3:30 am. The baht, however, more than lost its gains over the next several hours. At 9:00 am, the Thai currency traded at a mark of 31.90 against its American counterpart. Traders considered news that Thailand will retain capital controls imposed at the end of last year.
Copyright © 2007 RTTNews.com. All Rights Reserved.
posted by Kalin Tasev @ 8:11 AM
0 Comments:
Post a Comment
<< Home