Singapore Dollar Consolidates Ahead of Major Events
Dow Jones
Yesterday
0233 GMT - The Singapore dollar consolidates against its U.S. counterpart in the Asian session ahead of some major events this week. "Near term, some consolidation is possible especially if USD faces a short squeeze ahead of [the] Jackson Hole" Economic Policy Symposium, two strategists at OCBC Group Research say in a report. Part of the Singapore dollar's weakness overnight likely reflects "some unwinding of earlier positions" before U.S. core PCE data and Fed Chair Kevin Warsh's speech at Jackson Hole later this week, they add. The U.S. dollar is little changed at 1.2703 Singapore dollars, LSEG data show.
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