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The SGD consolidates against the U.S. dollar in the Asian session ahead of U.S. PPI and CPI data due Thursday and Friday. OCBC Group Research’s Christopher Wong says FX markets are reluctant to take new directional positions.
In early trade, the yen consolidates versus other Asian and G-10 currencies. Market talk links support to lingering risks of FX intervention after a sharp overnight rally and speculation of a possible authorities “rate check.”
Asian currencies are consolidating and may be weighed by risk-off sentiment