Coronavirus Cases Jump To Highest In A Year

Singapore dollar weakened yesterday, a bid in the greenback taking USD/SGD to highs of 1.3466. The pair last down 5 pips at 1.3455. Support is seen at 1.3425 a 50.0% retracement level which coincides with the 100-DMA, resistance is seen at 1.3488 a 38.2% retracement level.

• Authorities remain on high alert after there were 328 locally transmitted cases in the past 24 hours, the highest in over a year. Earlier this week health officials refused to rule out re-imposing restrictions as infections grow, reflecting the difficulty of reopening for places that have largely minimized Covid-19's threat through isolationist measures. The jump in cases has hit sentiment in Singapore, the Straits Times currently down around 1%.