USD/SGD downside bias fades after dip to 1.2790, says UOB
UOB analyst Quek Ser Leang notes that the recent downward pressure on USD/SGD has eased following a brief decline to 1.2790 and the subsequent bounce.
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United Overseas Bank’s Quek Ser Leang observes that the bearish momentum in USD/SGD has waned. The pair dipped to the 1.2790 level but quickly recovered, signaling a loss of downside traction.
According to the note, the prior downside bias is no longer intact, and the near-term outlook has shifted to a more neutral stance. No immediate directional cues are evident.
Source: FXStreet Forex News