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NEER Little Changed In Early Dealing, Local Docket Empty For Rest of Week

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed in early dealing, the measure sits a touch off cycle highs and is ~0.3% below the top of the band.

  • USD/SGD is a touch lower in early trading, the pair is consolidating above the $1.32 handle in a narrow range and last prints at $1.3210/20. Broader USD trends continue to dominate flows.
  • The pair has been supported below $1.32 for the most pair of 2023. Bears look to sustain a break of the figure to target the low from 1 Feb ($1.3032). Bulls first look to target the high from 13 July ($1.3307).
  • Looking ahead the local data calendar is empty for the remainder of the week.

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