The Singapore dollar climbed to a one-month high this week as disappointment with U.S. President-elect Donald Trump's first press conference since July decked the greenback.
In the wake of Trump's surprise election win, the U.S. dollar index, which measures the greenback against a basket of currencies, climbed to a 14-year high.
That sent the Singapore dollar tumbling to its weakest since 2009, during the global financial crisis, with the greenback fetching as much as 1.4545 Singapore dollars.
But Trump's press conference on Wednesday disappointed markets, with the president-elect continuing to push trade protectionism and criticizing individual companies, while providing few details on his planned infrastructure or other programs.
The U.S. dollar lost ground, falling as low as S$1.4211. At 12:56 p.m. HK/SIN, the dollar was fetching S$1.4277.
To be sure, in a note on Friday, Mizuho pointed to the pair remaining a "still four big figures" above its 1.38-1.39 level before the play on "Trump-flation," or expectations that Trump's policies would spur an acceleration of inflation.