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MAS seen slightly steepening S$NEER slope at mid-October meeting

OCBC said USD/SGD was last around 1.2777 and cited resilient manufacturing and ongoing price pressures as the basis for the MAS outlook.

Reported · Written up by our desk · Central Banks

OCBC’s Christopher Wong said the Singapore dollar has stayed relatively steady even as parts of Asian foreign exchange weakened, with USD/SGD around 1.2780.

He attributed the currency’s resilience to strong manufacturing output and persistent underlying price pressures, and said that outlook points to the Monetary Authority of Singapore possibly slightly steepening the S$NEER slope at its mid-October meeting.

FXStreet’s market notes also included Wong’s view that AI-related demand is helping support activity, adding that after last week’s CPI data OCBC expects MAS to adjust the S$NEER slope at the next MPC meeting in mid-Oct.

Wong also flagged some near-term technical signs, saying USD/SGD’s bullish daily momentum may be slowing and that consolidation is likely, with USD/SGD last at 1.2777.

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