Singapore yesterday revalued its currency to head off inflation after year-on-year economic growth surged 13.1 per cent in the first quarter.
The move by the Monetary Authority of Singapore helped to push up most currencies in developing Asia as traders speculated that regional economic expansion was accelerating, increasing the likelihood of a fresh round of interest rate rises.
Official data are today expected to show that the Chinese economy grew at an annual rate of 12 per cent in the three months to March, its fastest rate in three years.
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