HKD

 Monday morning during early Asian deals, most Southeast Asian currencies showed weakness against the US currency as a fall in most Asian stocks diminished demand for emerging market assets. Thus, the currencies of Hong-Kong, Thailand, South-Korea and Singapore dipped to new multi-day lows against dollar. The Indian rupee, Chinese Yuan and the Pakistan rupee also plummeted against greenback, while the Philippine peso recovered from a near 2-week low.  

Friday, during early Asian session, most Southeast Asian currencies lost ground against the US dollar despite a gain in most Asian stocks. The Hong Kong and the Taiwan dollars reached a 3-day low against the US currency. At the same time, the currencies of India, Philippine and South Korea fell from 1-year highs against the dollar.

 The Singapore dollar that closed yesterday's trading at 1.3891 against the U.S. currency fell to 1.3935 in early Asian deals on Friday. The near term support for the Singapore currency is seen around the 1.403 level. 

On Wednesday SGD fell against its main counterparts USD and HKD from an early Asian session's 13-day high. Thus SGD/ USD pair touched 1.5415, compared to 1.5324 hit late New York Tuesday. The next downside level for the SGD is expected around 1.558.

Meantime Singapore dollar stays depressed versus EUR and GBP. SGD/EUR rally decreased to 1.9551 compared to Tuesday’s closing 1.9457 ratio.