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)

Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8



With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
Back to top button