USD-SGD forecast to see a heavier 1.2550-1.2650 range

The extreme strong end and corresponding weak end of the NEER fluctuation band are estimated at 1.2355 and 1.2865 respectively, says OCBC Bank.

OCBC Treasury Research noted:

Positive EM FX performance from overnight and Asian equities getting off to a good start in early trading this morning bode well for Asian FX today. Our SGD NEER has ventured into positive territory at around +0.15% above parity (1.2600).

At current levels, the extreme strong end and corresponding weak end of the NEER fluctuation band are estimated at 1.2355 and 1.2865 respectively. In the interim, the USD-SGD may see a heavier 1.2550-1.2650 range.

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