Market risk appetite increased, and the Singapore dollar remained range-bound against the US dollar.
the Singapore dollar held steady against the US dollar during the Asian trading session, supported by risk-on investor sentiment. The US stock market closed higher overnight as investors regained their appetite for risk. In a report, OCBC Bank's Global Markets Research Department stated that the market generally believes the Federal Reserve will cut interest rates at next week's Federal Open Market Committee meeting. The USD/SGD exchange rate showed little change, standing at 1.2955.
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