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| Photo by: Wikimedia Commons |
The US dollar bounced back as mounting geopolitical tensions with North Korea have already eased and the adverse effects of Hurricane Irma have been slightly mitigated. As a result, the Singapore dollar declined after a 26-month high performance.
The US dollar increased by 0.2 percent as compared to the other major currencies following a 32-month low hit on Friday. The recovery of the dollar currency transpired immediately after North Korea’s commemoration of its 69th founding anniversary, which was celebrated with huge festivities likewise attended by nuclear scientists and technicians instead of conducting another missile or ballistic test.
The Singapore dollar, which was weakened by 0.5 percent, settled to 1.3436 per US dollar exchange on Monday from its close on Friday of 1.3367. In sum, the Singapore dollar increased by 7.4 percent against the US dollar to date this year as of September 8.
Meanwhile, the Japanese yen declined 0.7 percent to 108.38 against the US dollar on even date. This marked a 10-month low of 107.32 Japanese yen per US dollar exchange. The Australian dollar, on the other hand, declined from a stellar performance for the last 2.5 years, coming off from US$0.8125 to US$0.8046.
Finally, the euro settled to US$1.2015, having hit an all-time high of US$1.2092 on even date notwithstanding the surrounding speculations that the European Central Bank was on the verge of reinstating the implementation of its stimulus program.
