Singapore dollar climbs after stronger-than-expected GDP data

The Singapore dollar bounced in early trade after data showed that the city-state’s economy grew 3.6 percent in 2017, faster than the preliminary estimate of 3.5 percent, according to figures released on Wednesday.

Another positive sign for the Singapore’s economy came from the release on Wednesday of trade data. Non-oil domestic exports, or NODX, grew 8.8 percent in 2017, the highest since 2010. It also topped government expectations for 6.5 percent to 7 percent growth.

The dollar/Sing fell as low as 1.32 after the data, from as high as 1.323 prior to its release.