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Currency Market Analysis

Feb 23, 2018 | Currency Market Analysis

Global Themes

USDSGD falls as Fed reaction eases

The US dollar snapped its four-day winning streak overnight as markets caught their breath following yesterday’s Federal Reserve minutes boosted US bond yields to multi-year highs.

The US dollar weakness saw the USDSGD fall from one-week highs.

Earlier this week, the greenback had rallied strongly on expectations the US Fed would need to raise rates as many as three times this year.

Support

The euro eased after European Central Bank's cautious minutes pushed the currency lower.

The EURSGD fell 0.1% as it hit one-month lows.

The low-yielding currencies were the best overnight with the Swiss franc up 0.3% and the Japanese yen up 0.6%.

Inflation, Fed-speak

Tonight will see further inflation reports with CPI numbers from Europe and Canada.

From the US, a number of Fed board members speak, including William Dudley and Loretta Mester.


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