Markets rewind after Fed rate hold
US$ slides to eight-month low against S$, equities surge as risk appetite returns, but bullish mood could fizzle out in S'pore as soon as early April
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Singapore
IN one stroke - or lack thereof - the United States Federal Reserve turned back the clocks for local markets, sending the greenback down to an eight-month low against the Singapore dollar and the Straits Times Index (STI) up to within a whisker of its end-2015 mark on Thursday.
A key interest rate, the three-month swap offer rate (SOR), also fell back to a level last seen in October 2015.
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