|Day's range||1.3424 - 1.3490|
|52-week range||1.3033 - 1.4490|
* Singapore April core inflation beats forecast * Thai baht hits lowest level since March 15 * South Korean won appreciates 0.5% By Jaskiran Singh May 23 (Reuters) - Singapore's dollar inched higher on Tuesday after a key consumer price gauge rose more than expected last month, while most other Asian currencies traded in a tight range as expectations that U.S. rates will remain elevated for longer boosted the dollar. The Singapore dollar appreciated 0.2% after data showed core inflation, which excludes private road transport and accommodation costs, rose 5% year-on-year in April, while a Reuters poll of economists had forecast a 4.7% increase. Lower inflation for electricity, gas, food, retail and other goods was offset by higher inflation for travel-related services, the Monetary Authority of Singapore (MAS) and the trade ministry said in a joint statement.
Some of the biggest global banks are going short on the Singapore dollar, saying the improving regional outlook is damping demand for its haven qualities.
Singapore’s dollar has established itself as Asia’s most resilient currency against the US dollar this year.
Singapore’s dollar has outperformed as the MAS sought to curb inflation that’s raging at the quickest levels in almost 14 years.
Since the MAS announced its intention to tighten Singapore’s monetary policy further, the Singdollar has risen in value as compared to...