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US Fed is likely done with rate hikes, but that doesn’t mean a strong rebound in Asian currencies
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The Singapore dollar may still hold on to its recent gains against the US dollar and some regional peers.
ST PHOTO: LIM YAOHUI
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SINGAPORE - In a widely anticipated move, the US central bank raised its benchmark rates by a quarter percentage point
From near zero rates in March 2022, the benchmark rates have now been lifted to a range of 5.25 per cent to 5.5 per cent as the US Federal Reserve tries to stamp out inflation. Many had hoped that the rate hikes would take a pause after this.
