The SGD NEER stands at around +0.40% above the perceived parity level (1.4374). Terence Wu, an FX strategist at OCBC Bank, analyzes the USD/SGD outlook.
Key quotes
“The +0.40% to +0.60% above parity level may be a cap for the SGD NEER for now, limiting the downside of the USD/SGD now that broad USD prospects have likely turned.”
“Expect the USD/SGD pair to keep stretching for the 1.4400 target into the end of the week, while the 1.4290/00 level supports.”
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