0346 GMT - The Singapore dollar consolidates against its U.S. counterpart in the Asian session as traders assess a media report of gradual U.S. tariff increases. The incoming Trump administration is reportedly looking at a potential schedule of gradual tariff increases with a hike of about 2%-5% a month, Maybank analysts say in a FX Research & Strategy report. "A gradual tariff increase is not of much of a surprise to us and it has been our base case," the analysts say. While the USD Index could retreat further if the U.S.'s initial tariff rollout is less aggressive, the greenback may stay supported as anxiety surrounding trade tensions may not fully dissipate, the analysts add. USD/SGD is little changed at 1.3695. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 22:46 ET (03:46 GMT)
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