Singapore Dollar: Further weakness possible against US Dollar – UOB
UOB strategists Quek Ser Leang and Lee Sue Ann note that USD/SGD rebounded to 1.2810 before closing at 1.2797. While upward momentum is rebuilding, it remains insufficient to signal a sustained advance. The pair could edge above 1.2810, but the major resistance at 1.2835 is unlikely to be reached.
UOB strategists Quek Ser Leang and Lee Sue Ann warn that further weakness against the US Dollar could be expected for the Singapore Dollar. While USD/SGD rebounded to 1.2810 before closing at 1.2797, the upward momentum is insufficient to signal a sustained advance. The pair may climb above 1.2810, but it is unlikely to breach the major resistance level of 1.2835. If the pair falls below 1.2765, it may indicate a return to range-trading.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
