Home›Forex›Major Pairs›USD/SGD stays near recent highs as MAS tightening expe…

USD/SGD stays near recent highs as MAS tightening expectations support SGD

OCBC strategist Christopher Wong said USD/SGD last traded around 1.28, with resistance at 1.2820 and 1.2840 and support at 1.2740 to 1.2750.

Reported · Written up by our desk · Major Pairs

Singapore Dollar weakness has been limited even as the US Dollar strengthened and oil prices rose, with OCBC’s Christopher Wong pointing to tighter expectations from the Monetary Authority of Singapore (MAS) as support for the S$NEER.

Wong said the SGD has still held relatively steady because the S$NEER is already on the strong side of MAS’s policy band, which could cap additional gains versus a stronger USD.

In USD/SGD trading, the pair was described as trading a touch firmer near recent highs, last around the 1.28 area, with bullish momentum on the daily chart still intact.

OCBC also highlighted key technical levels, citing resistance at 1.2820 and 1.2840, and support near 1.2740 to 1.2750.

More like this

Sources