SOR falls below 0.4%

The fall in USD/SGD exchange rates over the last few days (from 1.3 to 1.256), coupled with the Fed’s commitment that they will hold rates low through to at least late 2014 resulted in a significant fall in the SOR. As an analyst in the article points out, “What they’re doing is setting the table for some sort of additional monetary easing”. As one would expect, precious metals and commodity prices reacted rather positively.

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