The Singapore dollar edged higher to 2.2595 against the British pound during early Asian deals on Friday. This set the highest point for the Singapore currency since May 19, 2009. On the upside, 2.227 is seen as the next target level for the Singapore dollar. The pair that closed yesterday's deals at 2.2785 is currently trading at 2.2689.

Singapore's industrial output rose 12.3% in August on a yearly basis, slower than a revised 17% growth the previous month, the Economic Development Board Singapore said today. Economists expected a growth of just 5%. However, excluding the biomedical sector, output contracted 6.1%.

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