USD/SGD Edges Higher as Traders Shift Focus to FOMC Meeting -- Market Talk

Dow Jones04-30

0322 GMT - USD/SGD edges higher during the Asian session in possible position adjustment as traders shift their focus to FOMC's two-day meeting that starts later today, from potential FX intervention by Japanese authorities. Apart from JPY, currencies seem to be consolidating ahead of the FOMC meeting, Maybank analysts say in a FX Research & Strategy report. However, risks are slightly "asymmetric" at this stage in favor of weaker USD, given how much earlier narratives, such as the Fed holding off rate cuts for longer, have swung in favor of a stronger USD, the analysts say. USD/SGD is up 0.1% at 1.3612. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 29, 2024 23:22 ET (03:22 GMT)

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