Hawkish MAS Move Supports SGD Against USD, MUFG Says
Monetary Authority of Singapore tightened policy for the second time, slightly increasing the slope of the SGD NEER band, according to MUFG analyst Lloyd Chan.
USDSGD
The Monetary Authority of Singapore (MAS) has delivered a second consecutive tightening by slightly increasing the slope of the Singapore Dollar Nominal Effective Exchange Rate (NEER) band, according to MUFG analyst Lloyd Chan.
This hawkish action reinforces the Singapore dollar against the US dollar, with the slope adjustment providing additional support to the SGD.
- MAS tightened via a steeper NEER slope
- Second such move in a row
- Expectation of further SGD resilience
Source: FXStreet Forex News