Terence Wu, an FX strategists at OCBC Bank, sees limited SGD-centric downside for the USD/SGD for now.
Key quotes
“A deeper decline for the USD/SGD pair beyond 1.4100 may require a capitulation of the broad USD within G10 space.”
“For now, look for 1.4100 may be a firm support level, with topside resistance at the 1.4250 area also significant.”
“On balance, we see the USD-SGD to be sideways for now, with a slight downside bias.”
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