Safe-Haven Demand Boosts US Dollar, Singapore Dollar Weakens

Deep News
01/05

Analysts from Maybank noted in a report that as the Trump administration took action to oust Venezuelan President Maduro over the weekend, the rising risk of US military intervention has fueled market demand for the US dollar as a safe-haven asset, leading to a weaker Singapore dollar against the US dollar during the Asian trading session. The analysts also stated they are closely monitoring developments such as the appointment of the new Federal Reserve Chair. The USD/SGD pair rose by 0.2% to 1.2881.

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