0310 GMT - USD/SGD edges higher during the Asian session, supported by mostly higher Treasury yields that could sustain the allure of U.S. fixed-income assets and demand for the greenback. However, any softening in U.S. ISM services PMI and employment data due out later this week could spark deeper losses in the USD Index, says Westpac Strategy Group in a research report. The U.S. ISM manufacturing PMI released overnight surprised to the downside, triggering a pullback in Treasury yields and placing more downside pressure on the USD Index, they note. USD/SGD is up 0.1% at 1.3465. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 03, 2024 23:10 ET (03:10 GMT)
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