0324 GMT - USD/SGD falls during the Asian session, dragged by bets for Fed rate cuts that would undermine the appeal of U.S. fixed-income assets and demand for the greenback. The weaker inflation and retail sales readings out of the U.S. overnight were what the greenback needed to move lower, Maybank analysts say in an FX Research & Strategy report. Markets now expect around 50bps worth of Fed rate cuts this year, the analysts say. Based on technical analysis, USD/SGD's support levels are at 1.3400 and 1.3300, the analysts add. USD/SGD is down 0.2% at 1.3431. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 15, 2024 23:24 ET (03:24 GMT)
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