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Lower For Third Session

SGD

Singapore dollar is weaker on Monday, USD/SGD building on Friday's gains as the greenback strengthens again. The pair is 22 pips higher at 1.3508, just shy of session highs at 1.3510. Resistance is seen at the 50-DMA 1.3528, while support is seen at 1.3488.

  • SGD is on track to weaken for a third straight session, driven lower by USD strength. 1-week implied volatility in the pair is 0.38% higher at 4.22% as markets look ahead to this week's FOMC rate announcement.
  • The Straits Times Index is slightly lower amid holiday thinned trade. The move lower comes despite reports that Singapore is seeking to set up an SGD 1.5bn fund backed by Temasek in order to bolster the stock market. The fund will invest in high-growth companies and IPO's.
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