Singapore Dollar Strengthens on Soft US PCE Data, USD/SGD Eases
OCBC strategists note USD/SGD eased as USD momentum softened after core PCE data, with the pair trading around recent levels.
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The Singapore Dollar gained ground against the US Dollar after softer-than-expected core Personal Consumption Expenditures (PCE) Price Index data weighed on US Dollar momentum. OCBC FX strategists Sim Moh Siong and Christopher Wong highlighted that USD/SGD has eased following the release, with the pair trading around current levels.
The move reflects a broader softening in USD sentiment as markets digest the inflation data, which may influence the Federal Reserve's policy outlook. The Singapore Dollar's uptick aligns with a general easing in the greenback against Asian currencies.
Source: FXStreet Forex News