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Currency Market Analysis

Dec 12, 2019 | Currency Market Analysis

Global Themes

USDSGD falls five-week lows on Fed, trade hopes

The US dollar tumbled overnight thanks to a more cautious Federal Reserve.

US Federal Reserve chair Jerome Powell said the US will need to see “significant, persistent” inflation before raising official interest rates.

Trade hopes

Earlier, improved hopes for trade, after the US, Canada and Mexico signed a new deal, helped the Singapore dollar.

Action ready

The action is likely to continue in FX markets with the European Central Bank meeting due at 8.45pm.

Tomorrow, the UK general election are due, with the polls to close at 6.00am.

Of course, trade remains key, with the focus on the expected withdrawal of US tariffs due to start on 15 December.

If US President Donald Trump decides not to delay these tariffs, FX markets could be pressured.

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