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Range Not Threatened

SGD

Spot USD/SGD has spiked higher since the start of the session, the past last at 1.3279. The move is a function of a safe haven bid as the greenback sees a modicum of strength following a sell-off yesterday, while equity markets in the region are lower.

  • The rate has steadily trended lower after peaking at 1.3311 on Wednesday, the immediate challenge for bulls is yesterday's high at 1.3297. Support seen at 1.3260. SGD implied volatility has risen around 5bps today, but still hovers near its post-COVID lows as it struggles to break out of a range from 1.3380 – 1.3200.

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