USD/SGD to trade at 1.46 by year-end, turnaround unlikely for now – TDS USDSGD Singapore Banks
its prevailing level, leaving the slope and width of the band unchanged. USD/SGD fell close to 1.42 on MAS action, though economists at TD Securities do not see a sustained turnaround in USD/SGD.“MAS only re-centred the midpoint of the S$NEER band to its prevailing level, much to our surprise. There was no change to the slope and width of the S$NEER band. We also expected the slope to be raised by 50 bps but the MAS appears to be taking a more cautious approach to avoid over-tightening policy.
“Buying USD on dips remains the best proposition as the September CPI report suggest the Fed is unlikely to pivot but keep up with its aggressive effort to restrict its inflation-adjusted policy stance. As such, we expect USD resilience in Q4 and see USD/SGD at 1.46 by year-end.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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