There were definitely people putting bets on the Singapore dollar in anticipation of the central bank making a change in policy. They've clearly been disappointed.
More Quotes from Adrian Foster:
Something like this comes out, people have a natural reaction to square their currency positions if they're on the wrong side of them. When there's news flow and people are uncomfortable with it, they chop out and that gives you the immediate reaction.Adrian Foster
It's of interest whether he confirms that he thinks he was misinterpreted. It looks like it's hard for him to say otherwise, so that's slightly dollar- supportive.
Adrian Foster
There's quite a healthy outlook for the economy and inflationary pressures are fairly subdued. I can't see why they need to do anything. They'll keep the policy statement unchanged.
Adrian Foster
The dollar got sold off and then rallied back to the levels prior to the news. The jobless figure is important and a strong number will keep alive speculation of more rate hikes.
Adrian Foster
Australia's interest-rate margin will be maintained. The risk-reward for the Australian dollar is the upside.
Adrian Foster
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