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Currency Market Analysis

Feb 19, 2021 | Currency Market Analysis

Global Themes

USDSGD lower as greenback gains pause

The US dollar, recently stronger on the back of inflation concerns, eased some of its gains overnight.

US ten-year bond yields, which had jumped to one-year highs after strong readings from inflation expectations and producer prices, also slipped lower.

GBP gains

The USDSGD fell 0.2%.

The weaker US dollar saw other major currencies gain.

The EURSGD gained 0.3% while the JPYSGD was steady.

The British pound was the strongest performer.

The AUD underperformed in other markets as oil prices retraced.

Oil had spiked higher earlier this week as a cold snap pushed through the US ramping up energy demand.

PMI watch

The main focus today is on global manufacturing activity readings from across the globe.

French, German and US PMI readings are due tonight.

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