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Currency Market Analysis

Sep 19, 2017 | Currency Market Analysis

Global Themes

Greenback gains as US yields rise ahead of Fed

The USDSGD climbed overnight as markets looked ahead to this week’s key Federal Reserve meeting.

US bond yields climbed with the US ten-year bond yield at the highest level since mid-August.

The USDSGD climbed 0.3%.

Euro climbs

The euro was one of the strongest currencies after inflation came in at expectations.

The ECB is now more likely to end its money-printing program.

The EURSGD jumped 0.3%.

The Japanese yen continued to fall as the market traded to the lowest level since April 2016.

RBA minutes

Across the region, the Reserve Bank of Australia minutes will be the major event today with the focus on the RBA’s worries about the higher Australian dollar.

As RBA’s Ian Harper said last week, with growth so low, the central bank need more evidence before we start moving rates higher

Tonight, US data will be closely watched, with building permits and housing starts both due to be released.

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