The Singapore dollar strengthens slightly against its U.S. counterpart in Asia. The weaker-than-expected U.S. nonfarm payrolls report released overnight has pared Fed rate-hike expectations, two strategists at OCBC Group Research say in a report. This has weighed on the greenback, they write. Based on technical analysis, two-way trades are likely for now, with slight risk for "downside retracement" of the U.S. dollar against the Singapore dollar, the strategists add. The U.S. dollar is 0.1% lower at 1.2911 Singapore dollars, FactSet data show. (ronnie.harui@wsj.com)
Dow Jones Newswires
Singapore Dollar Edges Higher on Reduced Fed Rate-Hike Prospects — Market Talk
The Singapore dollar strengthens slightly against its U.S. counterpart in Asia. The weaker-than-expected U.S. nonfarm payrolls report released overnight has pared Fed rate-hike expectations, two strategists at OCBC Group Research say in a report. This has weighed on the greenback, they write. Based…