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USD/SGD sideways, going nowhere fast despite surprise jump in NODX

  • Mar NODX 23.0% m/m, 18.5%y/y vs exp 3.5%m/m and -0.7%y/y

  • Specs also unwilling to push pair much lower after steep fall since MAS

  • Underlying bullish USD bias, slower growth attracts ahead of 1.3454 lows

  • Pair last 1.3491-96, traded 1.3489-1.3510 range so far 

 

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