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USD/SGD eases as Commerzbank calls for range-bound consolidation
Commerzbank expects the Singapore dollar pair to hold within a defined range as MAS is seen facing little pressure to tighten further despite higher July core inflation.
FXStreet, citing Commerzbank analysts Charlie Lay and Dr. Henry Hao, said USD/SGD has eased from the 1.2800 area to around 1.2700, with a softer US dollar and broader global risk sentiment driving the move.
The analysts pointed to Singapore’s July core inflation rising but remaining contained, arguing the Monetary Authority of Singapore is therefore under little pressure to tighten further.
Looking ahead, Commerzbank expects USD/SGD to consolidate within a defined range over the coming sessions.
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