USD/SGD Downward Bias Holds Within Tight Range – UOB
UOB analysts note that USD/SGD remained firm on Monday, closing at 1.2945 after trading between 1.2906 and 1.2950, with the SGD NEER standing 1.68% above its implied midpoint.
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United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann reported that the USD/SGD pair stayed firm on Monday, closing at 1.2945. The session saw a tight range between 1.2906 and 1.2950.
The Singapore Dollar's Nominal Effective Exchange Rate (NEER) was noted to be 1.68% above its implied midpoint, indicating persistent downward bias against the US dollar within the current range.
Source: FXStreet Forex News