0504 GMT - USD/SGD edges higher in the afternoon Asian session, buoyed by waning Fed rate-cut prospects driven by strong U.S. economic data released overnight. The data may be strong, Maybank analysts say in a FX Research & Strategy note, but add that they are watching more closely how the Fed's thinking on monetary policy is developing. Although Fed Gov. Waller was hawkish last week, a lot of FOMC members are still implying that they foresee rate cuts this year albeit not in a hurry, the analysts add, noting Fed Chair Powell is slated to speak later today. USD/SGD is up 0.1% at 1.3514. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 03, 2024 01:04 ET (05:04 GMT)
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