A stronger U.S. dollar is proving to be an early test for emerging-market currencies on the eve of Joe Biden’s inauguration. The greenback gained over the last two weeks, buoyed by the president-elect’s proposal for a $1.9 trillion stimulus package. Most developing-nation currencies have slumped in that span, and history suggests further pain may be in store. Although the MSCI’s gauge of emerging-market currencies ended 2020 with its biggest quarterly advance in a decade, the backdrop of rising cases, renewed lockdowns and vaccine concerns threatens to reverse those flows.

Janet Yellen, President-elect Joe Biden's pick to take over the US Treasury, is expected to affirm the United States' commitment to market-determined foreign exchange rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported on Sunday. The Treasury secretary nominee will make clear at a Senate confirmation hearing that the United States does not seek a weaker dollar, the newspaper reported, citing Biden transition officials familiar with her preparation for the session.

France and Russia prepared to beef up their coronavirus inoculation programmes next week, even as authorities sought to allay concerns about supplies of the vaccines while the global pandemic shows no sign of being brought under control. With infections surging past 94 million and more than two million deaths - and Europe among the hardest-hit regions - France and Russia were hoping to shift their vaccination programmes into a higher gear from Monday.

The Trump administration notified Huawei suppliers, including chipmaker Intel, that it is revoking certain licenses to sell to the Chinese company and intends to reject dozens of other applications to supply the telecommunications firm, people familiar with the matter told Reuters. The action - likely the last against Huawei Technologies under Republican President Donald Trump - is the latest in a long-running effort to weaken the world's largest telecommunications equipment maker, which it says is a threat to US national security and foreign policy interests.

About a third of the residential units offered at Normanton Park were sold at an average price of S$1,750 per square foot on the first day of sales, developer Kingsford Huray Development said on Sunday afternoon. Of the 600 residential units sold, 80 per cent are one- and two-bedroom units, it said in a press statement. Three commercial units were also taken up. The development, which is expected to obtain Temporary Occupation Permit (TOP) in 2023, consists of 1,840 apartment units, 22 two-storey strata terraces and eight commercial units.

Parler, the social network popular among conservatives, could return to Apple's App Store if it changes how it moderates posts on the platform, the tech giant's CEO Tim Cook said Sunday. Apple suspended all downloads of the Parler app following the attack on the US Capitol on January 6, citing postings on the platform that could incite further violence. Google and Amazon also cut ties with the company.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR