SINGAPORE (Oct 2): With the Singapore dollar down 8.4% year-to-date against the US dollar, everyone’s favourite game in town is predicting just how low could it go against the almighty greenback in the aftermath of the now inevitable December interest rate hike by the US Federal Reserve.
Siddharth Mathur, Forex and Interest Rastes strategist at Citigroup, believes a lot of people are bearish about the Singapore dollar for the right reasons.
“Undeniably, the most crowded position in emerging Asia was to be long USDSGD,” the Citigroup strategist says in a note published today.
