Published at 03:12 (GMT) 18 Mar
CNA: The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force will jointly investigate market misconduct offences such as insider trading and market manipulation under the Securities and Futures Act (SFA) with effect from Tuesday (17 Mar). "MAS and CAD will consolidate their investigative resources and expertise, drawing significant synergies from MAS' role as a financial regulator and CAD's financial crime investigation and intelligence capabilities," the agencies added.
On FX, USD/SGD was capped below 1.3900 in the morning. Prices slipped to 1.3871-78 at last check. Expect subdued trading ahead of US FOMC meeting. A hawkish bias at the meeting could see USD/SGD bulls rallying through 1.3934 (13 Mar high) to fresh 5-year highs. The focus will then be placed on 1.3950 mark again, where we believe the MAS is on guard to defend the level. SGD NEER is seen at 1.72% below its midpoint. STI shaved off 0.2% at time of timing. IF
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