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NEER Steady, USG/SGD Ticks Lower

SGD

The SGD NEER (per Goldman Sachs estimates) is steady this morning, we remain well within recent ranges. The measure sits ~0.4% below the top of the band.

  • USD/SGD ticked lower on Thursday as broader greenback flows weighed on the cross. We sit a touch off post-FOMC levels and last print at $1.3260/65.
  • The pair is in a technical downtrend, bears focus on a break of the low from 14 dec ($1.3254) which opens the low from 14 July ($1.3172). Bulls focus on the 20-Day EMA ($1.3355).
  • A reminder that the local docket is empty today.

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