Singapore Dollar Falls To 4-day Low Against U.S. Dollar

The Singapore dollar weakened against the U.S. dollar in the late Asian session on Friday, after data showed that the nation's industrial production declined for the fifth straight month in June at a faster-than-expected pace.

Data from the Economic Development Board showed that Singapore's industrial production decreased notably by 4.4 percent year-over-year in June, much faster than economists' expectations for a 0.4 percent slight drop. In May, production had fallen 1.7 percent.

On a monthly basis, industrial production fell a seasonally adjusted 3.3 percent in June, confounding economists' expectations for a 1.7 percent climb. In May, output grew 2.5 percent from April.

Against the greenback, the Singapore dollar fell to a 4-day low of 1.3725 from an early high of 1.3677. At yesterday's close, the Singapore dollar was trading at 1.3688 against the greenback.

If the Singapore dollar extends its downtrend, it is likely to find support around the 1.38 area.