USD/SGD Edges Lower in Likely Technical Correction -- Market Talk

Dow Jones04-17

0344 GMT - USD/SGD edges lower during the Asian session in a likely technical correction following its latest rally. However, the greenback's dips are likely well-supported, particularly given further affirmation of the Fed's patience on potential rate cuts, the Westpac Strategy Group says in commentary, noting Fed Chair Powell's remarks overnight. While any geopolitical-related swings or FX intervention could spark bouts of position adjustment, USD dips should now find solid support, adds the group, citing initial support for the USD Index in the 105.50 area. The index is little changed at 106.26; USD/SGD is down 0.1% at 1.3637. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 16, 2024 23:44 ET (03:44 GMT)

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However, the greenback's dips are likely well-supported, particularly given further...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USD","symbol_name":"ProShares Ultra Semiconductors","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2428359333","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428359333","pubTimestamp":1713325440,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0344 GMT - USD/SGD edges lower during the Asian session in a likely technical correction following its latest rally. However, the greenback's dips are likely well-supported, particularly given further affirmation of the Fed's patience on potential rate cuts, the Westpac Strategy Group says in commentary, noting Fed Chair Powell's remarks overnight. While any geopolitical-related swings or FX intervention could spark bouts of position adjustment, USD dips should now find solid support, adds the group, citing initial support for the USD Index in the 105.50 area. The index is little changed at 106.26; USD/SGD is down 0.1% at 1.3637. 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