Singapore dollar in knee-jerk rally over Fed 'relief'
Sibor continues to rise as strong US dollar trend has not changed
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Singapore
LIKE many Asian currencies, the Singdollar had a relief rally on Thursday in a knee-jerk reaction to what was regarded as a dovish statement on interest rate hikes by the US Federal Reserve.
The SGD opened at a high of S$1.37, up 1.4 per cent against the the greenback from the S$1.39 close on Wednesday, following the Fed statement - released overnight - which downgraded the US outlook for growth and inflation.
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