Singapore Dollar Edges Higher on Likely Technical Recovery
Dow Jones
Yesterday
0250 GMT - The Singapore dollar strengthens slightly against its U.S. counterpart on likely technical recovery after falling to a more than one-week low on Friday. Overbought conditions for the U.S. dollar-Singapore dollar pair suggest any advance for next 24 hours could be contained within a 1.2725-1.2765 range, two members of UOB Global Economics & Markets Research say in a report. Even if the U.S. dollar were to rise above S$1.2765, major resistance at S$1.2780 is unlikely to come into view, the members add. The U.S. dollar is 0.1% lower at S$1.2735 after touching S$1.2753 on Friday, its highest intraday level since Aug. 19, LSEG data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.