960408

Asian dollar

deposit rates

little changed

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 Monday.

"The market was quite and featureless in the morning on lack of fresh factors," a local dealer said.

"There wasn't any fresh news and most people are waiting on the sidelines for more clues to market direction from this Thursday's issue of the (March) producer price index and retail sales and Friday's release of the (March) consumer prices index data," he said.

"But I don't think there will be much impact here unless the numbers are way off market expectations," he added.

In day-to-day rates, Monday/Tuesday was unchanged from last Thursday's 5-3/8 5-1/4 percent but week-fixed rose 1/8 percentage point to 5-1/2 5-3/8 percent.

Among term rates, one-to five-month were unchanged from last Thursday's common 5-7/16 5-5/16 percent, six-month unchanged at 5-1/2 5-3/8, nine-month unchanged at 5-5/8 5-1/2 and twelve-month unchanged at 5-11/16 5-9/16 percent.-Reuter