SINGAPORE : The dollar was on the front foot on Monday and kept the yen pinned near a multi-decade low, though the threat of currency intervention from Japanese authorities prevented the greenback from heading further north.
The moves have come in the wake of the Bank of Japan's landmark interest rate hike at its March policy meeting, as the decision had been well telegraphed. Crucially, traders also reckoned rates in Japan will continue to remain low for some time yet and therefore maintain the stark rate differentials with the United States.
"I think there is still a high risk that they will come in to prop up the yen if dollar/yen were to surge materially perhaps to 155. That's still seen as a line in the sand." That's kept pressure on their respective currencies, with the euro last down 0.03 per cent to $1.08045, languishing near a three-week low.
In comparison, while market expectations are also for a Fed easing cycle to begin in June, a run of resilient U.S. economic data has raised doubts the central bank is indeed on course for three rate cuts this year. The two have also been partly pressured by a slide in the yuan, given both are often used as liquid proxies for the Chinese currency.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dr Eugene Tan to be new CEO of National Gallery Singapore and Singapore Art MuseumDr Eugene Tan will take on the role of chief executive of the National Gallery Singapore and Singapore Art Museum from April 1. He will also take Ms Chong’s other portfolio as head of the Visual Arts Cluster, which comprises the two museums and STPI – Creative Workshop & Gallery.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Report shows gov’t is still number 1 trusted institution in Singapore —Singapore Newsin contrast to Singapore’s results, government is distrusted in 17 out of the 28 countries surveyed, including the United States
Source: IndependentSG - 🏆 9. / 63 Read more »
Singapore Discovery Centre becomes first energy-positive museum in SingaporeThe Singapore Discovery Centre is the first museum in Singapore to generate more electricity than it consumes. The decades-old attraction became energy-positive after generating about 30 per cent more energy on average than it needed from October to February.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sentosa sky lantern festival: Police investigating event amid complaints, calls for refundsSINGAPORE — Police investigations into the Singapore Sky Lantern Festival are ongoing amid
Source: TODAYonline - 🏆 1. / 99 Read more »
Japan Finance Minister says it's difficult to comment on chance of FX interventionTOKYO : Japanese Finance Minister Shunichi Suzuki said on Friday that it's difficult to comment on the possibility of currency intervention, when asked about the chance of such action by authorities to stem the yen's weakness.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Vivian Balakrishnan meets Palestinian leaders, expresses Singapore’s concern about dire humanitarian situation in GazaSINGAPORE: Singapore's Minister for Foreign Affairs Vivian Balakrishnan met the leaders of the Palestinian Authority (PA) during his visit to Ramallah on Monday (Mar 18), amid the war betw
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »