Singapore Dollar Consolidates Ahead of Major U.S. Economic Data
Dow Jones
Sep 30
0252 GMT - The Singapore dollar consolidates against its U.S. counterpart in the Asian session. Attention shifts to the upcoming U.S. data including core PCE tonight and non-farm payrolls on Friday, which will need to validate the market's pricing of more Fed rate hikes, two strategists at OCBC Group Research say in a report. Stronger inflation and labor-market data could keep USD supported against Asian currencies, the strategists say. However, "any downside surprise could see Fed hike expectations pared and prompt some unwinding of recent USD longs," they add. The U.S. dollar is little changed at 1.2775 Singapore dollars, LSEG data show.
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