Rising expectations of interest rate cuts boost the Singapore dollar, while the appeal of the US dollar weakens
ChainCatcher News, according to Golden Ten Data, the Singapore dollar slightly appreciated against the US dollar during the Asian trading session due to rising expectations of a Federal Reserve rate cut. Data released on Thursday showed that US job openings in December fell to their lowest level since 2020, and initial jobless claims unexpectedly increased. Analysts said that the renewed weakness in the labor market has reignited bets on rate cuts, with swap markets now pricing in a 30% probability of a rate cut in March, up from 10% on Monday. LSEG data shows that the US dollar fell 0.1% against the Singapore dollar, quoted at 1.2738.
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