USD-SGD trips below 1.2520

The pair may consolidate around the 1.2500 support pending further news flow, says OCBC.

OCBC Treasury Research noted:

The SGD NEER is a touch firmer this morning at around +0.59% above its perceived parity (1.2590) with the extreme strong end of the NEER fluctuation band estimated at around 1.2340.

Overnight, the USD-SGD tripped below 1.2520 and the pair may consolidate around the 1.2500 support pending further news flow.

Note the 100-day MA (1.2633) is expected to present near term resistance on rallies and we remain heavy on the pair in the interim.

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