USDSGD was heavy around 1.2435 at the open as USDKRW fell, but turned bid near 1.2390 when the BoJ intervened. Spot remained bid through the day and traded to a high of 1.2525, where it found some selling interest. USDSGD should be supported at 1.2380 for now. Buy on dips to 1.2420, for a test of 1.2550. USDMYR traded choppy today tracking EURUSD and other majors. Spot touched a low of 3.0450 before the yen intervention, and then jumped back to 3.0600.
UBS Investment Bank