The Singapore dollar weakened against the U.S. dollar in the Asian session on Tuesday.
Meanwhile, data from the Ministry of Trade and Industry showed that Singapore's consumer prices declined 0.3 percent year-on-year in November, faster than an expected 0.2 percent decline. This follows a 0.1 percent rise in October. Consumer prices entered the negative zone for the first time since December 2009.
On a monthly basis, consumer prices rose 0.3 percent in November, in contrast to a 0.4 percent fall in the prior month.
Against the greenback, the Singapore dollar fell to more than a 2-week low of 1.3224. At yesterday's close, the Singapore dollar was trading at 1.3179 against the greenback.
If the Singapore dollar extends its downtrend, it is likely to find support around the 1.33 area.
The material has been provided by InstaForex Company – www.instaforex.com