MAS Tightening Underpins Singapore Dollar, USD/SGD Consolidates
Brown Brothers Harriman's Elias Haddad notes that USD/SGD is consolidating around 1.2900 after pulling back from near 1.3000, as the Monetary Authority of Singapore's unexpected second consecutive policy tightening bolsters the local currency.
USDSGD
The Monetary Authority of Singapore (MAS) unexpectedly tightened monetary policy for a second consecutive time, providing support for the Singapore dollar.
According to Elias Haddad of Brown Brothers Harriman (BBH), the USD/SGD pair has pulled back from near the 1.3000 level and is now consolidating around the 1.2900 handle.
The retreat reflects renewed Singapore dollar strength following the policy surprise, which caught markets off guard.
Source: FXStreet Forex News