0322 GMT - USD/SGD edges higher in the Asian session, supported by bets that U.S. interest rates will stay high, which would sustain the allure of U.S. fixed-income assets and demand for USD. The narrative of high-for-longer U.S. rates continues to keep USD supported on dips, Maybank analysts say in a foreign-exchange research and strategy report. This high-for-longer rate stance seems to be the message from several Fed officials who spoke overnight, the analysts add. Based on technical analysis, USD/SGD's resistance level is at 1.3500, while its support level is at 1.3400, they say. USD/SGD is up 0.1% at 1.3475. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 16, 2024 23:23 ET (03:23 GMT)
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