USD/SGD Consolidates as Traders Assess Biden's Withdrawal -- Market Talk

Dow Jones

2024-07-22

0357 GMT - USD/SGD consolidates during the Asian session as traders assess U.S. President Joe Biden's withdrawal from the presidential race. Vice President Kamala Harris, who Biden endorsed as Democratic presidential nominee, faces a lot of hurdles, Maybank analysts say, noting she only has a short time to secure the backing of the party. Also, worries over a Trump victory at the U.S. presidential election and the increased inflationary environment that will likely accompany it have tended to support higher Treasury yields and the USD Index, the analysts say in FX Research & Strategy report. USD/SGD is little changed at 1.3450. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 21, 2024 23:57 ET (03:57 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Vice President Kamala Harris, who Biden endorsed as Democratic presidential nominee, faces a lot of hurdles, Maybank analysts say, noting she only has a short time to secure the backing of the party. Also, worries over a Trump victory at the U.S. presidential election and the increased inflationary environment that will likely accompany it have tended to support higher Treasury yields and the USD Index, the analysts say in FX Research & Strategy report. USD/SGD is little changed at 1.3450. 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Vice President Kamala Harris, who Biden endorsed as Democratic presidential nominee, faces a lot of hurdles, Maybank analysts say, noting she only has a short time to secure the backing of the party. Also, worries over a Trump victory at the U.S. presidential election and the increased inflationary environment that will likely accompany it have tended to support higher Treasury yields and the USD Index, the analysts say in FX Research & Strategy report. USD/SGD is little changed at 1.3450. 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USD/SGD is little changed at 1.3450. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 21, 2024 23:57 ET (03:57 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}