The Singapore dollar’s strength looks set to fade after it lost momentum following its advance to the strongest in almost two years.

The US dollar appears poised to rally against the Singapore dollar toward its 200-day moving average, after the pair formed a potential bullish double bottom pattern in February. The currency pair started the year falling to its lowest level since April 2018, as the Singapore dollar rode the wave of risk appetite that was fueled by coronavirus vaccine optimism. However, support for the US dollar around its January low against the Singapore currency has continued to hold despite being retested.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook