Singapore Dollar: Range bias with upside risk against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann expect USD/SGD to remain in a tight intraday band after Monday’s modest rebound, with the pair seen between 1.2785 and 1.2815.
United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann anticipate the USD/SGD exchange rate will remain within a narrow intraday range after Monday's slight recovery. The pair is expected to fluctuate between 1.2785 and 1.2815. In the near term, there is a potential for downside risk, but a decisive drop below 1.2765 would be required to reach 1.2740.
Conversely, breaching 1.2840 would suggest the downside risk has diminished. Over the next few weeks, the analysts predict the USD will maintain this range, with the current price movements likely part of a range-trading phase.
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