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RBC EM Thematic Trade of the Week: Long USD/SGD

SGD

RBC note that “Singapore August CPI data showed further slowing in inflation pressures, especially with core inflation slipping. This cements the MAS’ steady policy approach.”

  • “At the same time, USD/SGD has been consolidating above technical resistance-turned-support at S$1.36 amid the broader USD uptrend.”
  • “The setup suggests a tactical opportunity to trade another leg higher in the pair.”
  • They recommended the long USD/SGD position with spot at S$1.3661, targeting S$1.3800 with a stop set at a daily close below S$1.3600
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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