Singapore Dollar Strengthens as Traders Digest Fed Rate Hike

Dow Jones
2小时前

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.

 

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