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Singapore dollar remains under pressure even as economy opens up

Bloomberg
Bloomberg5/26/2020 11:18 AM GMT+08  • 3 min read
Singapore dollar remains under pressure even as economy opens up
Singapore’s currency looks set to remain under pressure as global headwinds outweigh the benefits of an easing in the nationwide lockdown.
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(May 26): Singapore’s currency looks set to remain under pressure as global headwinds outweigh the benefits of an easing in the nationwide lockdown.

The U.S. dollar-Singapore dollar pair has failed to break below technical support at its one-month low, suggesting its next move could well be higher. Data this week is expected to show the nation’s economy contracted 1.8% y/y in the first quarter, according to the median estimate of economists in a Bloomberg survey.

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