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Dragged down by geopolitical tensions, the Singapore dollar is consolidating
Data from Jin10 on November 20th: The Singapore dollar against the US dollar remained stable in the Asian market, but it may be affected by the escalating geopolitical tensions. Geopolitical situations usually increase the attractiveness of the US dollar as a safe haven. On Tuesday, Ukraine launched long-range missiles provided by the United States to Russia for the first time. At the same time, Russian President Putin allowed wider use of nuclear weapons. According to a report by two members of the OCBC Bank Global Market Research, the market is experiencing intense fluctuations due to the 'eye for an eye' reactions. They added that safe haven assets are obvious beneficiaries.