Expectations of Federal Reserve interest rate cuts rise, with the Singapore dollar slightly up against the US dollar

Affected by the increasing expectation of interest rate cuts by the Federal Reserve, the Singapore dollar slightly rose against the US dollar during the Asian trading session. Data shows that job vacancies in the United States fell to a new low since 2020 in December, and the number of initial jobless claims unexpectedly increased. Analysts point out that the weakening of the labor market is driving interest rate cuts, and the swap market expects the probability of a rate cut in March to rise from 10% on Monday to 30%. LSEG data shows that the US dollar fell 0.1% against the Singapore dollar, closing at 1.2738.