#USDSGD Steady,Supported by Risk-Off Sentiment (3 January 2024)

Posted by Clara Mellor on 22:03 with No comments

USD/SGD is trading steadily in the afternoon Asian session, supported by risk-off sentiment driven by losses across most regional equity markets.

A sharp turnaround in mood amid a sell-off in large-sized technology companies has weighed on Asia ex-Japan currencies, says Christopher Wong, FX strategist of OCBC's Global Markets Research, in a research note.

Together with developed-market PMIs still in contractionary territory, global growth worries can take center-stage and undermine broad sentiment, Wong adds. USD/SGD is little changed at 1.3260.


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