Reported 2 months ago
The Singapore dollar hit a new high for 2024 against the US dollar, boosted by expectations that the Monetary Authority of Singapore will maintain a tighter monetary policy compared to the Federal Reserve. Rising 0.1% to 1.3163 per dollar, the currency has shown significant performance this year, attributed to a retreating dollar and favorable economic forecasts for Singapore. However, experts caution that the Singapore dollar may face challenges in remaining at the top of Asian currencies as potential Federal Reserve interest rate cuts could shift market sentiment.
Source: YAHOO