USD/SGD: Stretching for the 1.4400 target – OCBC

The SGD NEER stands at around +0.40% above the perceived parity level (1.4374). Terence Wu, an FX strategist at OCBC Bank, analyzes the USD/SGD outlook.

Key quotes

“The +0.40% to +0.60% above parity level may be a cap for the SGD NEER for now, limiting the downside of the USD/SGD now that broad USD prospects have likely turned.”

“Expect the USD/SGD pair to keep stretching for the 1.4400 target into the end of the week, while the 1.4290/00 level supports.”