Just Shy Of 2021 Lows

Singapore dollar weakened on Thursday as the greenback finished the day with gains. USD/SGD dropped as low as 1.3516 in the European morning before rising to highs of 1.3557 – last trading at 1.3545. Bulls will look for a break of the 2021 highs at 1.3584 while near term support is seen at lower trend channel of 1.3529.

• On the coronavirus front the health authority announced that residents who have had vaccines overseas can now register domestically under certain conditions. The number of cases has ticked up again recently, linked to a cluster at a karaoke lounge, just as Singapore loosens restrictions. The bump higher is not thought to be enough to derail reopening plans and the government is still confident of further reopening later in July. The healthy ministry said last yesterday that it expects to complete its regulatory assessment of the Sinovac vaccine in four to six weeks.