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New Coronavirus Cases Hit Two-Week High

SGD

A stronger greenback saw USD/SGD drift higher on Monday, the pair is holding above 1.35 after breaking the level last week, while the pair made a fresh 2021 high at 1.3566 on Friday. The rate last changing hands at 1.3520, up 1 pip on the session.

  • Yesterday the number of coronavirus cases rose to a two-week high, just as Singapore prepares to remove restrictions and reopen the economy. Yesterday the government eased restrictions on groups of people dining and plans to further reopen the economy when 50% of the population is vaccinated later this month. Elsewhere the Australian trade minister Tehan has said that a planned travel bubble between Singapore and Australia is more likely near the end of 2021 when both countries have made more progress on vaccinations.
  • There are no domestic releases on the docket today, participants look ahead to GDP figures slated for release on Wednesday.
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