Singapore dollar weakens for third day

MAS policy review is coming up.

According to UOB Global Economics & Markets Research, the Singapore dollar index is seen hovering within +/-0.5% around the midpoint. It said this implies USD/SGD range of 1.3453-1.3589.

Here’s more from UOB:

SGD weakened against the USD for the third day as the MAS policy review comes into view, with a decline of 0.3% to 1.3556/USD late Tue, with the downtrend largely intact through the session, hitting low of 1.3593 in Asia, the weakest level since 29 Mar.

The SGD NEER index also eased off further, to 0.2% below the midpoint this morning, from -0.1% on Tue. No date confirmed yet for the MAS policy review next week, although we could narrow it down to either Wed or Thur (13 or 14 Apr) as the authorities typically announce one week ahead of the actual release date.