The pair continues to pullback 4 days in a row, it opened at a high of Sgd1.2752 in early Sydney hours and slipped down to a session low of Sgd1.2719 before rebounding to Sgd1.2737 last. Risk appetite improved after Turkish central bank hike rates aggressively in an emergency meeting, EM currencies staged a strong pullback lower sending USD/Asia FX lower too. Regional stocks rally after risk sentiments improved, led by the Nikkei but the STI fell 0.72% last. The SgdMyr cross gapped lower to open at Myr2.6123, profit taking sent it to a low of Myr2.6060 before short covering pushed it to high of Myr2.6121 last, sources said. Turning to the charts, dollar-sing breachedinterim support of Sgd1.2722 (22-dma) briefly before rebounding higher to Sgd1.2737 currently on stronger dollar tone.
