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Singapore Dollar Slides To Near 10-month Low Against U.S. Dollar
(RTTNews) - The Singapore dollar weakened against the U.S. dollar in the Asian session on Wednesday.
Against the greenback, the Singapore dollar fell to nearly a 10-month low of 1.3640 from a recent high of 1.3607. At yesterday's close, the Singapore dollar was trading at 1.36012 against the greenback.
If the Singapore dollar extends its downtrend, it is likely to find support around the 1.38 area.
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Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday.
Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today.
The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today.
On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting.
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To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict.
As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful."
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