Singapore Dollar Near Record High Puts Heat on MAS to Ease Again
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Singapore Dollar Near Record Puts Heat on MAS to Ease
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Haven buying of the Singapore dollar amid global market turmoil has pushed a gauge of its strength to unprecedented levels, putting pressure on the city’s central bank to do more to support the economy.
The Monetary Authority of Singapore’s trade-weighted measure of the currency reached a record high after Britain voted to exit the European Union. It has reversed losses incurred after the MAS surprised markets by moving to a neutral policy of zero percent appreciation in April. That’s prompting ABN Amro Bank NV, Royal Bank of Scotland Plc and Nomura Holdings Inc. to predict more easing. The next review is due in October.