News & analysis

The Singapore dollar is one of the strongest performing currencies in the world this year, but it has not been able to keep pace with the mighty US dollar. Macroeconomic fundamentals suggest that the current trend should continue, keeping SGD supported on a trade-weighted basis and weakening against the greenback. In spite of the fundamentals, however, the risks to our USDSGD outlook skew to the downside as APAC central banks may intervene in FX markets to prevent excessive depreciation in their respective currencies.

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Authors: 
Jay Zhao-Murray, FX Market Analyst

 

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