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NEER Little Changed, USD/SGD See-Sawing Around $1.34 Handle

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed this morning, we remain a touch off recent cycle highs. The measure sits ~0.3% below the top of the band.

  • USD/SGD sits in a narrow range as the pair continues to see-saw around the $1.34 handle, the pair sits a touch off the base of the recent $1.3390/1.3420 range as broader USD trends continue to dominate.
  • Technically the pair is now in a downtrend, bears target the low from July 14 at $1.3174. Bulls focus on the 20-Day EMA ($1.3495) to turn the tide.
  • The docket is light this week with just October Money Supply due on Thursday.

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