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USD/SGD limited by corp selling below 1.2850

FXstreet.com (Barcelona) – The USD/SGD foreign exchange rate is last trading at 1.2823 off recent session and weekly highs at 1.2853/56 printed on the back of emerging market currencies weakness, up +0.24% for the week so far.

USD/SGD may strengthen further

According to IFRMarkets the USD/SGD seems to be pressured on the upside “by month end corp selling,” although “stronger stall found at 1.2770” doubted to be tested “as bids are touted at 1.2800.” From Ewen Chew at DowJones: “The Singapore dollar may weaken further, dragged by other currencies in the vicinity, which continue to weaken against the U.S. dollar. USD/SGD …read more