Singapore Dollar: How are FOMC and yields shaping SGD moves against US Dollar? – OCBC

USD/SGD initially edged lower alongside the broader USD and US Treasury yields before recovering some ground, according to OCBC’s Christopher Wong. External factors are again taking centre stage following MAS’s October decision. Although the bank remains constructive on SGD over the medium term, it expects limited room for outperformance with S$NEER in the upper band. The FOMC and key support and resistance levels remain in focus.

How Are USD and US Yields Shaping SGD?

"USD/SGD drifted lower for much of last week, tracking the broader decline in USD and US Treasury yields, before paring some of its losses on Friday. With MAS’s October policy decision behind us, external developments have returned as the main driver of USD/SGD."

"We retain a constructive medium-term SGD outlook, although near-term direction remains sensitive to USD movements, US Treasury yields and RMB."

"The S$NEER’s model-implied position in the upper half of the policy band may also limit scope for further SGD outperformance vs peers unless USD falls in a big way."

"Daily momentum is mild bearish while decline in RSI moderated. 2-way trades likely for now."

"Support at 1.2750 (50 DMA), 1.2740 (61.8% fibo retracement of 2026 low to high). Resistance at 1.2790 (21 DMA, 50% fibo), 1.2820 (100 DMA)."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Learn more.)