0255 GMT - USD/SGD edges lower in the Asian session amid falling Treasury yields that diminish the appeal of U.S. fixed-income assets and demand for the greenback. There are growing expectations for a Fed rate cut in September, Maybank analysts say, noting the U.S. PCE core price index released Friday showed inflation rose at a tame pace in June. Based on technical analysis, USD/SGD's initial support is at 1.3400 while initial resistance is at 1.3450, the analysts say in a FX Research & Strategy report. USD/SGD is down 0.1% at 1.3415. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
July 28, 2024 22:55 ET (02:55 GMT)
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