The Singapore dollar and Asian currencies strengthen amid the outlook for interest rate cuts by The Federal Reserve (FED).

Gate News bot message, in the context of the Federal Reserve's interest rate cut outlook, the Singapore dollar and other Asian currencies strengthen against the US dollar. Lloyd Chan from Mitsubishi UFJ Bank stated in a research report that the market's expectation for the Federal Reserve to cut interest rates twice in the second half of the year remains unchanged.

He pointed out that recent U.S. economic data has been disappointing and mentioned that the sales of pre-owned homes in May fell from 722,000 units in April to 623,000 units. After the ceasefire between Iran and Israel, the demand for the dollar as a safe haven has also weakened. Data from the London Stock Exchange Group shows that the dollar has fallen 0.3% against the Singapore dollar to 1.2742 Singapore dollars; the dollar has slightly decreased by 0.2% against the South Korean won to 1356.50 won.