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Scotiabank Look To Sell USD/SGD

SGD

Scotiabank note that “the SGD has been running a tight correlation with the EUR. In addition, Singapore’s rising core inflation could prompt the MAS to tighten its S$NEER policy band again in April, after raising the slope slightly at an off-cycle policy meeting on January 25. We would like to sell USD/SGD spot if it breaches the S$1.34 support level, with a target of S$1.32 and a stop at $1.35.”

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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