USD-SGD to remain 'inherently heavy'
Any further improvements in global risk appetite levels may engender a drift in the SGD NEER, says OCBC Treasury Research.
OCBC Treasury Research noted:
We expect the USD-SGD to remain inherently heavy in the near term within a 1.2580-1.2680 range. The SGD NEER meanwhile is around - 0.40% below its perceived parity (1.2575) with the extreme weak end of the NEER fluctuation band estimated at around 1.2830. Notably, any further improvements in global risk appetite levels may engender a drift in the SGD NEER into the stronger half of its fluctuation band.
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