USD/SGD Falls, Dragged by Falling Treasury Yields -- Market Talk

Dow Jones
2024-03-21

0357 GMT - USD/SGD falls during the Asian session, dragged by falling Treasury yields which undermine the appeal of U.S. fixed-income assets and demand for the greenback. The USD seems to have weakened more considerably on Fed Chair Powell's remarks overnight, Maybank analysts say in a FX Research & Strategy note. Among his comments, Powell said a significant slowdown in the U.S. labor market "could also be a reason for us to begin the process of reducing rates." Based on technical analysis, USD/SGD's support levels are at 1.3350 and 1.3300 while its resistance levels are at 1.3400 and 1.3450, Maybank analysts add. USD/SGD is down 0.2% at 1.3371. (ronnie.harui@wsj.com)

 

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March 20, 2024 23:57 ET (03:57 GMT)

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