18 hours ago
- Business
- Wall Street Journal
Singapore Dollar Consolidates Amid Focus on Possible Russia-Ukraine Meeting
0235 GMT – The Singapore dollar consolidates against its U.S. counterpart in the Asian session amid the market's focus on a possible Russia-Ukraine meeting. President Trump on Monday urged Russian President Putin and Ukrainian President Zelensky to meet face to face with him at a peace conference. Zelensky quickly embraced the idea of a three-way summit, but Trump said in a social-media post after speaking with Putin that Zelensky and Putin would have to hold one-on-one talks first. The main theme has been consolidation, Commerzbank Research analysts say in a note. Market participants are in a cautious wait-and-see mode amid ongoing talks over Ukraine, the analysts add. USD/SGD is flat at 1.2846. (
0026 GMT — Asian currencies consolidate against the dollar in the morning session ahead of the Jackson Hole economic symposium later this week. Markets are treading water before Fed Chair Powell's speech on Friday, NAB's Tapas Strickland says in a commentary. Going into this symposium, markets are pricing 20.9bps worth of Fed rate cuts for September and a cumulative 53.3bps worth of Fed rate cuts by year-end, the head of Market Economics notes. USD/KRW is little changed at 1,388.50, USD/CNH is steady at 7.1866, and AUD/USD is flat at 0.6492, LSEG data show. (
