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RBC Recommend Short USD/SGD


RBC recommend short USD/SGD as their EM FX trade of the week.

  • They write “the rate is turning lower from the top of the range around S$1.36 that has held since December 2022.”
  • “USD/SGD 1-month risk reversals have also reversed in the past week, indicating less bearishness on SGD. The range-bound nature of the price action this year is evident through the sideways meander of the 50-day and 100-day SMAs.”
  • “We take this opportunity to tactically trade the range in USD/SGD.”
  • They recommended entering at S$1.3540, targeting a move to S$1.3420, with a stop set at a daily close above S$1.3610.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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