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Travel Bubble Details Awaited


An inside day for USD/SGD, the pair moved higher during European hours rising to 1.3312 before the USD weakened in the wake of the BoC taper announcement. The 1.3280 level held and the rate currently changes hands at 1.3287.

  • Familiar technical levels in play, support seen at 1.3245 a 76.4% retracement level, while resistance is at 1.3300 a 61.8% retracement level, above here is the 100-day moving average at 1.3330.
  • Fig.1: USD/SGD

Source: MNI/Bloomberg

  • Looks like a quiet session ahead, no domestic data on the docket today. Something that could be announced today are details or the travel bubble between Hong Kong and Singapore, while the government has announced it is reviewing border controls for those who have already recovered from COVID-19 on reinfection concerns. Participants look ahead to CPI data tomorrow at 0600BST/1300HKT.

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