0501 GMT - USD/SGD edges higher in the Asian afternoon session as traders await the U.S. PCE data, due later in the day, for clues on the future path of the Fed's monetary policy. The focus turns to this data, Charu Chanana, head of foreign-exchange strategy at Saxo Markets, says in a commentary. Markets have pushed out expectations of Fed rate cuts for 2024, with the first full rate cut now only priced in for December, Chanana says. If the March core PCE price index comes in above 0.4% on month, it will probably fuel risk aversion, bringing USD strength, Chanana adds. USD/SGD is up 0.1% at 1.3605. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 26, 2024 01:01 ET (05:01 GMT)
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