In short term, the units likely to trend lower against the greenback on Trump’s global trade stance
THE US dollar has been jumping strongly against some global currencies since the elections in the United States, and a Trump administration could cause the greenback to continue to strengthen ahead, some analysts say.
While a weaker domestic currency are generally good for exports, they indicate this would be bad for some Asian importers, while President-elect Donald Trump’s policies on tariffs could also hit them hard.
The currency has strengthened 2.5 per cent against the Singapore dollar in the past month, while gaining nearly 3.9 per cent on the ringgit. It has strengthened around 3.7 per cent on the yen. Since the US election, the greenback is up as much as 2.7 per cent and 3.4 per cent against the Singdollar and ringgit, respectively.
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