2021 Low In Focus

Singapore dollar is flat in early trade on Monday, having lost ground in every session last week. USD/SGD posted a gain of 1.44% last week and has risen for the last three weeks in a row. The pair now sits just above a 23.6% retracement line at 1.3443, with resistance seen at the 2021 high of 1.3531.

• On the coronavirus front the government in Singapore has announced it will scale down its reopening plans amid a jump in new cases over the last week. The government announced that higher-risk activities such as dining-in at restaurants and going to the gym can resume in groups of up to two people, lower than five, as had been previously announced. Group size is expected to be increased to five in July depending on conditions. The government also said more than half its population has received at least one COVID-19 inoculation.