MAS tightening supports Singapore Dollar – MUFG

MAS tightening supports Singapore Dollar – MUFG

MUFG’s Senior Currency Analyst Michael Wan notes that the Monetary Authority of Singapore (MAS) tightened its exchange rate policy in April by slightly increasing the slope of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) band, becoming the first Asia-ex-Japan central bank to tighten policy after the Iran conflict. MAS raised both headline and core […]

GBP/USD nears 1.3590 as softer US PPI sinks Dollar demand

GBP/USD nears 1.3590 as softer US PPI sinks Dollar demand

The Pound Sterling (GBP) advances on Tuesday as traders remain optimistic about a possible resolution to the US-Iran conflict. At the same time, the US Dollar (USD) weakens amid a hot US inflation report that missed forecasts of a higher print. At the time of writing, the GBP/USD pair trades near 1.3590, gaining 0.61%. Sterling […]

Bearish setup as valuation gap narrows – Scotiabank

Bearish setup as valuation gap narrows – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is making modest gains versus a softer US Dollar (USD), though it lags core majors and weakens on crosses. They estimate USD/CAD equilibrium at 1.3527, with undervaluation correcting mainly via Dollar softness. Seasonality is strongly bearish for USD/CAD in April, while recent political […]