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Singdollar, ringgit climb to multi-year highs; more volatility expected amid yen intervention fears

Singdollar strengthens to 1.2677 against the greenback; ringgit is below the psychological ‘4’ mark at 3.9630

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Renald Yeo

Renald Yeo

Published Mon, Jan 26, 2026 · 09:45 PM
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    • The US dollar's weakness follows reports that the New York Federal Reserve conducted so-called "rate checks" with traders on Friday.
    • The US dollar's weakness follows reports that the New York Federal Reserve conducted so-called "rate checks" with traders on Friday. PHOTO: REUTERS

    [SINGAPORE] Most major Asian currencies strengthened against the US dollar on Monday (Jan 26), with the Singapore dollar and ringgit in particular hitting multi-year highs against the greenback, amid fresh fears of coordinated US-Japan intervention to support the yen.

    Analysts warned of rising near-term volatility, with shifting US rate-cut expectations and positioning risks likely to fuel sharper swings in Asian currencies.

    The Singapore dollar strengthened to 1.2677 against the greenback, an 11-year high, while the ringgit was below the psychological “four” mark at 3.9630 – a level not seen since 2018.

    Singapore dollarRinggitCurrencies

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