HALISTER1: USD/SGD More Likely to Fall Than Rise on 1% Moves This Year: UOB

USD/SGD More Likely to Fall Than Rise on 1% Moves This Year: UOB

(Bloomberg) -- Losses of over 1% in USD/SGD outweigh gains of similar amount on 7 out of 8 days this year and the trend could persist for a few more months in the absence of bullish USD catalysts near term, says Peter Chia, FX strategist at UOB.
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  • Large USD/SGD down moves are typically driven by U.S. factors, with the only big up move this year triggered by Brexit: Chia
  • Distribution between declines and gains may become more balanced toward year-end with a likely Fed rate hike in Dec.
  • Sees USD/SGD at 1.3800 end-2016
  • Spot USD/SGD currently -0.2% to 1.3403, below 10-DMA at 1.3434
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Peter Chia (United Overseas Bank Ltd)

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