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DEPOSIT RATES

SINGAPORE: Asian dollar deposit rates were little changed in featureless trade with most traders sidelined due mainly to an absence of fresh incentives, dealers said on Wednesday.

"The market was quiet and featureless in the morning. Most people are waiting on the sidelines, reluctant to open or hold new positions on lack of fresh factors", a local dealer said.

"But some people are waiting for more clues to market direction from this Thursday's issue of the (US March) producer price and retail sales index and Friday's release of the (March) consumer price index", he said.

In short dates, Wednesday/Thursday and Thursday/Friday were unchanged from Tuesday's common 5-5/8 5-1/2 percent. Week-fixed eased 1/16 point to 5-1/2 5-3/8 percent.

Among term rates, one-month was unchanged from Tuesday's 5-1/2 5-3/8 percent, six-months unchanged at 5-9/16 5-7/16, nine-months unchanged at 5-3/4 5-5/8 and twelve-months unchanged at 5-7/8 5-3/4 percent.-Reuter