Singapore Dollar Steady Amid Lower Fed Rate-Hike Prospects
Dow Jones11:21
0321 GMT - The Singapore dollar is steady against the greenback in Asia's morning trade. U.S. headline CPI rose 3.4% on year in July, down from June's 3.5%. As the latest data didn't show renewed broad-based acceleration in consumer prices, markets are paring expectations for a September Federal Reserve rate increase, Commerzbank Research analysts say in a note. "This follows the unexpectedly weak July payrolls report Friday, which had already reduced pressure on the Fed to tighten further in September," they add. The U.S. dollar is little changed at 1.2800 Singapore dollars, LSEG data show.
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