USD/SGD continued to trade in a subdued range near recent low. Pair was last at 1.2885, OCBC FX strategists Frances Cheung and Christopher Wong note.
SGD to continue staying strong
“Daily momentum is flat while RSI rose. Rebound risks not ruled out in the near term. Support here at 1.2870. Resistance at 1.30 (21 DMA), 1.31 levels. S$NEER was last estimated at ~1.88% above our model implied mid, with model implied spot lower bound at 1.2895.”
“Core CPI for Aug re-accelerated. For the first 8 months of the year, core CPI is at 3%. This may suggest that it is premature for MAS to ease policy stance at Oct MPC unless MAS switches from inflation fighting mode to supporting growth.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.