USD/SGD Analysis

The pair grinded higher in late NY session to end at Sgd1.2775 before Asia stepped in, it inched up to hit session high of Sgd1.2778 during Sydney session before slipping to session low of Sgd1.2758 and rebounded to Sgd1.2767 last. The SgdMyr cross trades within a range of Myr2.6195 to Myr2.6233 and last stands at Myr2.6208. Relatively quiet trading in Asia morning as some traders pared positions ahead of the Chinese New Year holidays. Meanwhile overnight in NY session, dollar-sing dealt a range of Sgd1.2738 to Sgd1.2775 and closed the session at the high. Most Asian equities fell except the KLCI reversing earlier losses and the STI fell 0.68% last.