Singapore dollar faces headwinds as exports decline amid global slowdown

Singapore dollar has held up well against stronger US dollar this year but may be challenged as economy loses steam

Non-oil exports declined for 11th month in August, signaling deteriorating global demand given reliance on trade

Currency has benefited from central bank's policy letting it appreciate against major trading partners

Focus turning to Oct 13 policy announcement as weak export backdrop weighs on growth

Analysts see scope for Singapore dollar underperformance against Asian currencies in coming months