Singapore Dollar Strengthens Amid Concerns Over Fed's Independence -- Market Talk

Dow Jones01-12

0238 GMT - The Singapore dollar strengthens slightly against its U.S. counterpart in Asian trading amid concerns over the Fed's independence. The Fed received grand jury subpoenas from the Justice Department that threaten a criminal indictment relating to Chair Jerome Powell's testimony, the Fed chair said. U.S. prosecutors are investigating Powell over his testimony last summer about the central bank's building renovation project. Powell said the investigation was a pretext as part of President Trump's ongoing campaign to pressure the Fed to cut rates. USD/SGD is 0.1% lower at 1.2854. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 11, 2026 21:38 ET (02:38 GMT)

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