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Currency Market Analysis

Jan 23, 2019 | Currency Market Analysis

Global Themes

USDSGD hits three-week high as US-China talks falter

The USDSGD hit three-week highs overnight as global markets took fright on reports the US-China trade talks had stumbled over intellectual property issues.

The UK’s Financial Times reported that the US government had rejected an offer for a high-ranking delegation to travel to the US with the Trump administration citing long-running concerns over intellectual property.

US shares fell with the Dow Jones index down 1.2%.

Negativity

The market negativity hit the local currency with the USDSGD up 0.1%.

Today’s focus is on the Bank of Japan with the central bank meeting for the first time this year.

Bank of Japan

Today’s focus is on the Bank of Japan with the central bank meeting for the first time this year.

With global growth slowing markets will be looking for any change in the BoJ’s rhetoric. The BoJ’s announcement is due around 11.00am.


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