Renewed expectations of interest rate cuts boosted the Singapore dollar, while weak US jobs data diminished the dollar's appeal.

According to ME News, on February 6th (UTC+8), analysts at CIMB Treasury Markets Research noted that the Singapore dollar rose slightly against the US dollar during Asian trading hours, influenced by rising expectations of a Federal Reserve rate cut. Data released on Thursday showed that US job openings fell to their lowest level since 2020 in December, and initial jobless claims unexpectedly rose. Analysts stated in a report that the renewed weakness in the labor market has reignited bets on a rate cut, with the swap market's expectation of a March rate cut jumping from 10% on Monday to 30%. LSEG data showed the US dollar fell 0.1% against the Singapore dollar to 1.2738. (Source: ME)