DOLLAR-SING: The recovery in the euro and the........>

DOLLAR-SING: The recovery in the euro and the Chinese yuan over the past day

have helped USDSGD to weaken back to a key support level. The pair currently

trades at 1.3390, at the bottom of its recent trading range, with the 200DMA

coming in at 1.3366. A break below this level would reestablish the broader

bearish trend for USDSGD and set up a run at the 50DMA and 100DMA at 1.3262 and

1.3219 respectively.

- Singapore's real effective exchange rate has also recovered during recent

trading, after falling to a 6-year low in February this year. The weak REER,

together with the country's huge current account surplus, which currently sits

at 18.5% of GDP, stands the currency in good stead to outperform its regional

peers over the coming weeks and months, particularly as the greenback, to which

the SGD is loosely pegged, is likely to benefit from further monetary

tightening.