Singapore dollar could weaken in coming months, analysts say

Quick Summary:

Recent declines in the US dollar led to the Singapore dollar hitting 10-year highs against the greenback.

Other Asian currencies tend to gain alongside the yen, so the Singapore dollar may have benefited from that, he added.

The US Federal Reserve usually moves 25 basis points at a time, so that means the market expects a larger-than-normal cut of 50 basis points at one of the meetings this year.“What's changed is … the markets are now expecting a much more aggressive pace of easing because of US recession concerns,” said Mr Sim.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIndonesiaJapanMalaysiaMali

Topics: Bank Ringgit Added Strength Currency Singapore Market Rate Interest Cuts Dollar

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 06:00:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 849 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22302233

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