Singapore Dollar Drops Most in 10 Months as U.K. Chooses Brexit
- Monetary Authority says currency stays within policy band
- There’s a risk next MAS move may be easing, ANZ’s Goh said
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Singapore’s dollar fell, heading for its biggest decline in 10 months, after Britons voted to leave the European Union.
The local currency slid to the lowest in three weeks as the U.K. decision spurred concern global growth will slow. The Monetary Authority of Singapore, which guides the currency against a basket of major trading partners, said the trade-weighted local dollar remains within its policy band despite the heightened volatility in foreign-exchange markets. The pound tumbled to a 30-year low.