Singdollar rallies to 2017 high of 1.3565 against US dollar following FOMC statement

Singapore

THE Singapore dollar (S$ or SGD) rallied on Thursday to a 2017 high of 1.3565 against the US dollar (US$ or USD) following an overnight dovish statement from the US Federal Reserve Open Market Committee (FOMC) which left interest rates unchanged.

"Post FOMC, USD/SGD fell through 1.36 like a knife cutting through butter and is now trading at a new low of 1.3565," said a note from United Overseas Bank Markets Overview.