FXStreet reported that United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann see USD/SGD potentially easing to 1.2750 over one to three weeks if the pair remains below 1.2795, implying modest Singapore dollar strength.
In its 24-hour view, FXStreet reported a projected range of 1.2755 to 1.2780. The outlet said USD/SGD traded from 1.2762 to 1.2785 on Thursday, Oct. 22, and ended the session at 1.2774. The strategists saw only a small increase in downward pressure on the pair, which they said did not yet establish a lasting decline.
The target continues a view that FXStreet said had turned against the U.S. dollar earlier in the week: on Oct. 21, the strategists cited a spot level of 1.2780 and a possible move to 1.2750. In an earlier update, they identified 1.2805 as a momentum threshold, which EconoTimes covered in its earlier USD/SGD report. The newer reported condition for the target is below 1.2795.
In its account of Thursday’s subdued pair movement, FXStreet cited demand for safer assets and higher oil prices supporting the U.S. dollar against Asian currencies. Separately, MUFG Research said in an Oct. 23 market note that a roughly 16-basis-point drop in the U.S. 10-year Treasury yield to below 5% weakened the dollar index by 0.2%. MUFG also reported Brent crude rose 4% to about $113 a barrel after attacks in Saudi Arabia. It said higher oil prices pressured oil-sensitive Asian currencies, while the Singapore dollar was relatively defensive in the region.
The Singapore Department of Statistics reported that all-items consumer prices rose 2.2% year over year in September. The Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry put core inflation at 2.0%, down from 2.2% in August. MUFG said headline inflation above 2.5% could reinforce expectations of a tightening bias at the MAS January 2027 policy meeting; September’s all-items rate was below that threshold.
