USD/SGD Steady, Underpinned by Higher Treasury Yields -- Market Talk

Dow Jones
2024-03-28

0430 GMT - USD/SGD is steady in the Asian afternoon session, underpinned by higher Treasury yields that increase the allure of U.S. fixed-income assets and demand for the greenback. Treasury yields have been lifted by some hawkish remarks from Fed Gov. Chris Waller overnight, Maybank analysts say in an FX research & strategy report. Waller said high inflation readings and strong job gains in early 2024 reinforce his view that "there is no rush" to cut rates. Based on technical analysis, USD/SGD's resistance levels are at 1.3500 and 1.3610, while its support levels are at 1.3400 and 1.3300, Maybank analysts add. USD/SGD is little changed at 1.3474. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

March 28, 2024 00:30 ET (04:30 GMT)

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