USD/SGD Falls Ahead of U.S. Nonfarm Payrolls Report

0552 GMT—USD/SGD falls in the afternoon Asian session ahead of the U.S. April nonfarm payrolls report due out later today, which economists estimate will increase by 180,000 workers. The Fed tends to stop raising rates when nonfarm payroll growth falls below 200,000 and the pause extends until the data trends negative, Maybank analysts say in a FX Research & Strategy report. Then, the Fed would cut rates, with the exception of 2019, the analysts add, citing past Fed rate cycles since 1990. USD/SGD is down 0.3% at 1.3244 after earlier touching 1.3239, its lowest intraday level since April 14, according to FactSet. (ronnie.harui@wsj.com)