The Singapore Dollar remained under pressure against the US Dollar, with USD/SGD closing at 1.2960 after a volatile trading session that saw intraday swings between 1.2938 and 1.2975, according to United Overseas Bank’s (UOB) Quek Ser Leang [1]. Despite a brief advance to 1.2975, the move did not generate a clear increase in upward momentum, and UOB expects the pair to continue trading within a narrow range of 1.2935 to 1.2975 in the near term [1].
UOB has revised its 1–3 week expected trading range for USD/SGD higher, now anticipating the pair to fluctuate between 1.2890 and 1.2990, compared to the previous range of 1.2870 to 1.2970 [1]. The 1–3 month outlook continues to favor further US Dollar strength, with the possibility of the pair moving above the 1.3000 level [1].
Momentum indicators are described as mostly flat, and the recent price action has not been sufficient to signal a sustained advance for the US Dollar against the Singapore Dollar [1]. As a result, UOB maintains a neutral stance in the short term, expecting continued range-bound trading [1].
No specific market reactions, analyst opinions beyond UOB’s technical outlook, or additional forward-looking statements were provided in the source [1].
CONCLUSION
USD/SGD is expected to remain range-bound in the near term, with UOB revising its trading range slightly higher. The overall market sentiment is neutral, with no clear momentum for a sustained move in either direction.