Singapore’s dollar remains under pressure against the greenback, trading near recent lows in a tight range following Wednesday’s volatile session. United Overseas Bank currency analyst Quek Ser Leang reports USD/SGD closed at 1.2960 after swinging between 1.2938 and 1.2975 intraday, reflecting continued dollar strength and regional currency weakness.
For Thursday’s session, UOB expects extremely limited movement with the pair confined to a narrow 1.2935-1.2975 band, suggesting traders see little near-term catalyst for directional conviction. The Singapore dollar’s weakness reflects broader pressure on Asian currencies as the US dollar maintains elevated levels. The constrained trading range indicates market participants are adopting a wait-and-see approach amid lingering uncertainty over US monetary policy and regional economic data.
FXnCO Insight
Traders should prepare for range-bound conditions in USD/SGD with minimal profit opportunities unless the pair breaks decisively outside the 1.2935-1.2975 zone, signaling renewed directional momentum.
Source: FXStreet