Singapore Dollar Consolidates as U.S.-Iran Conflict Weighs
Dow Jones
2 hours ago
0322 GMT - The Singapore dollar consolidates against its U.S. counterpart in the Asian session, but may be weighed by renewed U.S.-Iran conflict that has led to higher crude oil prices. The combination of Brent oil price above $90 per barrel and firmer Fed rate-hike expectations is an "unfavorable mix" for Asia, particularly net oil importers, strategists at OCBC say. "Near term, Asian FX may stay under pressure," the strategists add. The U.S. dollar is little changed at 1.2733 Singapore dollars, LSEG data show.
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