0342 GMT - USD/SGD edges higher in the Asian session but gains are likely to be capped by Fed rate-cut prospects that undermine the appeal of U.S. fixed-income assets and demand for USD. Implied Fed rate-cut probabilities rose marginally across the board after U.S. initial jobless claims were released overnight, Maybank analysts say in a foreign-exchange research and strategy report. The Fed's dual mandate of inflation and employment means labor-market weakness may give a reason to cut rates, but the central bank will likely want some comfort on inflation's trajectory as well, the analysts add. USD/SGD is up 0.1% at 1.3535. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 09, 2024 23:42 ET (03:42 GMT)
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