20101015 1002 Global Market News.

US dollar drops on Singapore action, gold climbs
HONG KONG, Oct 14 (Reuters) - The U.S. dollar fell broadly to a 10-month low  after Singapore unexpectedly tightened policy by letting its currency strengthen, lifting Asian stocks and copper to two-year peaks and gold to a record high.
"One thing that people underestimate is that the U.S. will do everything in its power to reflate the economy. It's not just a question of QE2, but if required they will do QE3, QE4 etc," Pranay Gupta, chief investment officer for ING Investment Management Asia Pacific, said.

PRECIOUS-Gold hits record highs as dollar wilts
LONDON, Oct 14 (Reuters) - Gold rallied to fresh record highs in Europe on Thursday as the dollar slid to its lowest this year versus a basket of major currencies, boosting interest in the metal as a haven from currency market volatility.
"If there is further dollar weakness surrounding quantitative easing and the like, it is almost certainly going to be highly supportive for gold," said RBS Global Banking & Markets analyst Daniel Major.

FOREX-Dollar pummelled after Singapore widens FX band
LONDON, Oct 14 (Reuters) - The U.S. dollar index hit the year's low on Thursday while the Australian dollar flirted with parity after Singapore widened its currency's trading band,  piling more pressure on to the struggling greenback.
"Effectively the Singapore move is a tightening of policy and it clearly shows Asian economies are at the opposite end of the spectrum compared to the spare capacity in the U.S. economy," said Chris Turner, head of FX strategy at ING.