USD/SGD: Limited downside potential – OCBC

The SGD NEER continues to populate the top end of the recent 0.0% to +0.60% above parity range (1.4327), standing at +0.43% above parity, per OCBC Bank. 

Key quotes

“We think downside potential for the USD/SGD going forward should be limited with the SGD NEER near the top end of the range.”

“Intraday, the base for the USD/SGD may be at 1.4210/30, while another test of the 1.4280/00 level should not be ruled out.”