MAS Tightening Bets Fuel SGD Strength Against USD Near 1.2800

The Singapore dollar (SGD) has shown resilience against the US dollar (USD), holding steady near the 1.2800 level after a brief jump on Wednesday.

According to VT Markets, expectations of further tightening by the Monetary Authority of Singapore (MAS) have boosted support for the SGD, with UOB's SGD Nominal Effective Exchange Rate model sitting 1.76% above its mid-point.

This alignment has been associated with a projected intraday USD/SGD band of 1.2764-1.2828, and attention remains on resistance at 1.2835.

UOB has flagged potential consolidation in a narrower 1.2780-1.2815 range for the next 24 hours, with renewed upward momentum suggested after USD/SGD pushed up to 1.2813.