0338 GMT - USD/SGD consolidates in the Asian session ahead of the FOMC decision and U.S. CPI data due out later today. The CPI figures are likely to stay elevated and doesn't necessarily create comfort for the Fed to pivot on policy, Maybank analysts say in an FX Research & Strategy report. The Fed is expected to remain on hold and keep a firmly hawkish tone, given there's no clear certainty just yet of softening U.S. economic data, the analysts say. There's also focus on whether the FOMC changes the dot plots, say the analysts, adding they wouldn't be surprised if the dot plot is adjusted to indicate two rate cuts this year versus three previously. USD/SGD is little changed at 1.3526. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 11, 2024 23:38 ET (03:38 GMT)
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