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Caution Around Elevated Coronavirus Cases

SGD

The greenback trimmed Thursday's losses to close back toward the upper end of the week's range Friday, keeping the USD Index within range of the bull trigger at the mid-August high of 93.73. Friday saw modest risk-off trade, with equities edging lower on the back of further concerns surrounding China's property development giant Evergrande. As a result SGD came under some pressure as USD/SGD finished near session highs, the pair last up 2 pips a 1.3539.

  • Coronavirus cases remain elevated in Singapore, the government mandated work from home for all employees where possible as well as tightening social meeting rules. Health officials have said they expect daily cases to jump to around 6,000 from about 1,500 currently and want to tighten restrictions now to avoid a full scale lockdown.
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