USD/SGD stable despite divergent signals
USD/SGD stable despite divergent signals
Updated October 18, 2023 at 1:21 a.m. ET
05:20 GMT — USD/SGD is trading steadily during the Asian afternoon session amid divergent signals. Growing geopolitical tensions are heightening the need for safe-haven assets such as Treasuries, which would limit rising yields, Maybank analysts say in a forex research and strategy report. This suggests that the support the greenback can derive from returns is limited, analysts say. However, at the same time, strong US economic data released overnight increased the likelihood of another Fed rate hike, analysts add. USD/SGD was little changed at 1.3682. (ronnie.harui@wsj.com)
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