Singapore Dollar Strengthens as Traders Digest Fed Rate Hike
Dow Jones
1 hour ago
0426 GMT - The Singapore dollar strengthens slightly against the greenback during Asian trade after weakening sharply overnight following the Fed's rate hike. Fed Chairman Kevin Warsh struck a decidedly hawkish tone, saying that "inflation is too high and has been for too long." Looking ahead, the Fed's hawkish shift could make the Singapore dollar weaker in the near term, OCBC Group Research's Christopher Wong says in a report. However, the Singapore dollar is still sensitive to U.S. data. If incoming U.S. activity, labor market or inflation readings begin to soften and rate expectations are pared back, the Singapore dollar should strengthen again. The U.S. dollar is 0.1% lower at S$1.2763, LSEG data shows.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.