UOB Sees USD/SGD in Tight Range, Flags Upside Risk for Singapore Dollar
UOB analysts expect USD/SGD to remain rangebound with downside pressure as the Singapore dollar shows upside risk against the US dollar.
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United Overseas Bank’s Quek Ser Leang and Lee Sue Ann see USD/SGD holding in a narrow intraday band after Monday’s modest rebound. The pair is seen between 1.2785 and an upper level not fully disclosed, signaling a tight range.
The analysts note that the Singapore dollar carries upside risk against the US dollar, implying potential weakness ahead for USD/SGD. This suggests that while the pair may bounce within the band, the broader bias leans toward a move lower.
Source: FXStreet Forex News