Singapore dlr hits record high on flows, stop losses

SINGAPORE, July 15 (Reuters) - The Singapore dollar jumped to a record high against a broadly weaker U.S. dollar on Tuesday, buoyed by technical factors and flows into an economy perceived to be a safe haven as financial sector concerns mount elsewhere. The Singapore dollar SGD= inched up by 0.6 percent on Tuesday to hit 1.3465 per U.S. dollar, strengthening past the previous record high of 1.3468 per dollar touched on April 23.

"Investment banks are the main sellers of U.S. dollars," one trader in Singapore said.

Another trader said heavy stop-losses were triggered as the U.S. dollar weakened on the back of the U.S. government's bailout plan for the country's two big mortgage lenders, causing more sales of U.S. dollars around the 1.3470 level against the Singapore currency.

This trader suspected the central bank had intervened to cap the Singapore dollar.

The currency has gained 6.8 percent so far this year while some others, such as the South Korean won KRW=, have been hit by soaring oil prices CLc1 and fears of slowing growth.

(Reporting by Melissa Chia; Editing by Jacqueline Wong)