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Asian dollar

deposits quietly

steady in

SINGAPORE: Asian dollar deposit rates were quietly steady in lacklustre trade with most traders sidelined due mainly to an absence of fresh incentives, dealers said on Tuesday.

"Rates were marked up slightly in the morning on some speculative position adjustments," a local dealer said.

"There was little impact from Monday's disappointing two-year treasury note auction and most people are cautious over demand for today's auction of five-year treasury notes," he said.

"Some people are also waiting for possible direction from this Thursday's issue of the (U.S. March) producer price index and retail sales and Friday's release of the (March) consumer price index data," he added.

In short dates, Tuesday/Wednesday and Wednesday/Thursday rose 1/4 percentage point each to a common 5-5/8 5-1/2 percent. Week-fixed rose 1/16 point to 5-9/16 5-7/16 percent. Among term rates, one-month rose 1/16 point to 5-1/2 5-3/8 percent, six- months rose 1/16 point to 5-9/16 5-7/16 percent, nine-months rose 1/8 point to 5-3/4 5-5/8 and twelve-months rose 3/16 point to 5-7/8 5-3/4 percent.-Reuter