0350 GMT - USD/SGD is trading steadily in the Asian session but could be supported by higher Treasury yields, which boost the allure of U.S. fixed-income assets and USD demand. There appear to be two-way risks for the USD, with some bias to the upside for now, Maybank analysts say in a foreign-exchange research and strategy report. At this juncture, forex markets and the Fed's projections could be rather aligned, the analysts say. Based on technical analysis, USD/SGD's resistance levels are at 1.3600 and 1.3650, while its support levels are at 1.3500 and 1.3400, the analysts add. USD/SGD is little changed at 1.3553. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 08, 2024 23:50 ET (03:50 GMT)
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