USD/SGD advances, supported by safe-haven demand
USD/SGD advances, supported by safe-haven demand
Updated October 16, 2023 at 1:15 a.m. ET
05:12 GMT — USD/SGD advances during the Asian afternoon session, supported by safe-haven demand for the USD amid ongoing conflict in the Middle East. Market participants remain vigilant about the possibility of a further escalation of the conflict and involving more countries and multiple fronts, Maybank analysts say in a forex research and strategy report. The currency pair has been supported by safe-haven demand for the USD and could strengthen as the narrative of higher and longer US rates remains intact, analysts add. USD/SGD is up 0.1% at 1.3696. (ronnie.harui@wsj.com)
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