USD/SGD Steady; May be Supported by Ebbing Fed Rate-Cut Prospects -- Market Talk

Dow Jones04-29

0317 GMT - USD/SGD is trading steadily in the Asian session, and may be supported by ebbing Fed rate-cut prospects which could sustain the allure of U.S. fixed-income assets and demand for the greenback. U.S. economic data including nonfarm payrolls are expected to be markets' focus this week, says Jeff Ng, head of Asia Macro Strategy at SMBC, in a research report. Also, with the Fed likely to turn less dovish at this week's meeting, SMBC continues to watch for some bid in USD for week ahead, Ng adds. USD/SGD is little changed at 1.3623. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 28, 2024 23:17 ET (03:17 GMT)

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Also, with the Fed likely to turn less dovish at this week's meeting, SMBC continues to watch for some bid in USD for week ahead, Ng adds. USD/SGD is little changed at 1.3623. 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