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Coronavirus Restrictions Reinstated

SGD

A higher greenback saw USD/SGD push higher again on Friday, the pair closed near highs around 1.3574, last trading at 1.3569. The 2021 high for the pair is within touching distance at 1.3579.

  • SGD is likely to come under pressure from rising COVID-19 cases with 92 reported on Sunday, the highest in almost 11 months. As a result of the surge in case numbers authorities have reimposed stricter measures for dining-in just days after relaxing them and closed nightlight venues. Different restrictions have been applied to people depending on their vaccination status, while the government has warned that cases are likely to continue to increase and stricter measures could be instated.
  • There are no domestic releases on the economic docket today, markets await CPI data due on Friday.
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