The Singapore dollar hit an 18

On August 14,Process of recovering money if you are defrauded of foreign exchange the exchange rate of the US dollar against the Singapore dollar fell to 1.3154, marking its lowest level since February 2023.

Since 2024, the Singapore dollar has performed robustly among Asian currencies, second only to the Malaysian ringgit and the Hong Kong dollar. The market anticipates that the Broker Detectorry Authority of Singapore will ease its monetary policy next year, while the Federal Reserve may start cutting interest rates as early as September, which has exacerbated the weakness of the US dollar.

Alvin Tan, head of Asia currency strategy at RBC in Singapore, pointed out, "Unless the US economy falls into recession, it is unlikely that the Broker Detectorry Authority of Singapore will change its monetary policy setting this year, which will continue to support the appreciation of the Singapore dollar."

However, there are differing views among analysts on the future trajectory of the Singapore dollar.

Bloomberg analysts believe that with the potential interest rate cuts by the Federal Reserve boosting market risk sentiment, the Singapore dollar may find it difficult to continue outperforming in the Asian forex market by the end of 2024, especially since the Singapore dollar tends to underperform when the US dollar weakens broadly.

Meanwhile, Tan from RBC predicts that due to the anticipated rebound of the US dollar, the exchange rate of the Singapore dollar against the US dollar may depreciate to 1.35 by the end of the year.

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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