USD/SGD Steady; May Be Weighed by Revived Fed Rate-Cut Bets -- Market Talk

Dow Jones04-04

0456 GMT - USD/SGD is steady in the afternoon Asian session but may be weighed by revived bets for Fed rate cuts which would diminish the allure of U.S. fixed-income assets and demand for the greenback. Fed Chair Powell's remarks on Wednesday helped to soothe markets as he reiterated what he's been saying over recent weeks, Maybank analysts say in an FX Research & Strategy note. Powell mentioned inflation didn't "materially change" the overall picture while he sees it would likely be appropriate to begin lowering rates "at some point this year," the analysts note. USD/SGD is little changed at 1.3479. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 04, 2024 00:56 ET (04:56 GMT)

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