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Currency Market Analysis

Mar 14, 2018 | Currency Market Analysis

Global Themes

Greenback hit as Tillerson sacked

The USD was weaker overnight – in line with other key markets – as investors reacted to the sudden sacking of US secretary of state Rex Tillerson.

Former Exxon Mobil CEO Tillerson was believed to have a strained relationship with President Trump with a disagreement over Trump’s planned meeting with Kim Jong Un reporting driving Tillerson’s departure.

The news unsettled markets after last week’s departure of chief economic adviser Gary Cohn.

Drop

The USDSGD fell 0.1%.

The Singapore dollar was lower in other markets.

The EURSGD was up 0.4%, the GBPSGD was up 0.4% while the CHFSGD climbed 0.3%.

The yen slipped with the JPYSGD down 0.2%.

China, US

The major data today comes from China with industrial production and retail sales both due at 10.00am.

Tonight, producer prices and retail sales will be loosely watched. Both releases are due at 8.30pm.


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