The USD/SGD is the quote for the US Dollar, the base currency, quoted against the Singapore Dollar, the quote currency.
The SGD became the national currency of Singapore on June 12th, 1967, replacing the Malaya and British Borneo Dollar. Brunei also accepts the Singapore Dollar, and vice versa, per the Currency Interchangeability Agreement between the central banks of Singapore and Brunei.
Singapore is a global financial center and gateway to Asia, and the Singapore Dollar is the 10th most traded global currency. Most online Forex brokers offer the USD/SGD, which has high liquidity and low to average spreads. The S$10,000 banknote is the world’s most valuable banknote in official circulation, together with the B$10,000 banknote of Brunei.
Singapore is a leading developed mixed-market economy with dirigiste characteristics, ranking as the most open and business-friendly economy. Temasek Holdings, the Singaporean sovereign wealth fund, owns stakes in the most valuable domestic companies, is an active investor, and is one of the best-known sovereign wealth funds globally. Singapore is a core FDI outflow financier and benefits from inward foreign direct investment (FDI) flows. Singapore and the Singapore Dollar also benefit from ASEAN membership, which fulfills a central position in East Asian regionalism.
Most Recent
The ability of the USD/SGD to touch a low of nearly 1.29980 early this Monday highlighted the strength of the Singapore Dollar as it challenged levels within the currency pair that had last been seen in November of 2014.
The USD/SGD is trading near the 1.30845 level as of this writing, which is within sight of lower values not traded in a handful of years.
Yesterday’s selling added on to bearish sentiment which has been seen since the start of July.
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The USD/SGD has produced challenges of lows the past handful of days while maintaining the lower elements of its near-term range.
The USD/SGD has traversed higher in the past handful of days, but its upwards price action has not been violent.
I continue to pay close attention to the 1.34 SGD level.
I see that the US dollar has rallied again during the trading session on Tuesday against the Singapore dollar as we continue to recover.
The USD/SGD has produced a solid bearish trend.
It’s becoming increasingly obvious to me that the 1.34 level is an area that’s going to be very important when it comes to the Singapore dollar.
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In my daily analysis of the US dollar against the Singapore dollar, I can see that we continue to dance around the crucial 200 day EMA.
Economic data from the U.S in the past week continued to come in weaker than expected.
I can see that the USD/SGD pair is simply consolidating in a 50 point range.
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The price range of the USD/SGD trading pair has been rather strong the past week.
The USD/SGD is near the 1.35255 mark as of this writing.
This pair isn’t typically very volatile, so it might have been a nice place to hang out.