0515 GMT — USD/SGD is trading steadily in the afternoon Asian session, supported by prospects of slowing global economic growth, which could lead to safe-haven demand for the greenback. The recent slew of data showing slowing growth momentum seems to be a global phenomenon, Ken Cheung, chief Asian FX strategist at Mizuho Bank, says in an email. Also, the Fed is unlikely to be the only central bank to resume a rate-cut cycle next year, Cheung adds. USD/SGD is little changed at 1.3407. ([email protected])

USD/JPY Bulls Appear to Be Defending Support Around 147.00

0218 GMT — USD/JPY bulls appear to be defending support in the 147.00 area, says Matthew Weller, global head of Research at Forex.com and City Index, in an email. This area represents both the bottom of the currency pair’s bullish channel that represents all of this year’s price movements and the 100-day exponential moving average, based on technical analysis, Weller notes. However, unless USD/JPY rebounds back above resistance at 148.00, the currency pair looks vulnerable to a large breakdown, Weller says. The next level to watch below the current support area is around 145.00, which offered resistance in June and support in August, Weller adds. USD/JPY is steady at 147.21. ([email protected])