Singapore Dollar Consolidates Ahead of U.S. Nonfarm Payrolls Report
Dow Jones
1 hour ago
0234 GMT - The Singapore dollar consolidates against its U.S. counterpart ahead of the U.S. nonfarm payrolls report due later in the global day. In the near term, the U.S. dollar-Singapore dollar pair could remain supported if U.S. Treasury yields stay elevated, two strategists at OCBC Group Research say in a report. However, tonight's U.S. nonfarm payrolls report will be key. "A softer print, particularly if accompanied by some easing in longer-end [U.S.] yields, could allow SGD's relative resilience to translate into renewed downside in USDSGD," the strategists add. The U.S. dollar is little changed at 1.2805 Singapore dollars, LSEG data show.
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