Singapore Dollar Edges Lower on Possible Position Adjustments
Dow Jones
3 hours ago
0240 GMT - The Singapore dollar weakens slightly against its U.S. counterpart in the Asian session on possible position adjustments. However, the Singapore dollar may be supported by the weaker-than-expected U.S. nonfarm payrolls report released Friday. The report "reinforced expectations that the Fed may pause at its Oct. meeting," says UOB's Global Economics & Markets Research team. For today, market participants will likely be monitoring whether the U.S. ISM services PMI data point to a moderation in economic momentum and support prospects that the Fed will stay on hold this month, the team adds. The U.S. dollar is 0.1% higher at 1.2804 Singapore dollars, LSEG data show.
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