SGD Gains Against USD Predicted by UOB Analysts

According to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann, the Singapore Dollar (SGD) remains at risk of further gains against the US Dollar (USD). The pair's recent drop to 1.2682 on Friday was followed by a recovery to close near 1.2700.

In the short term, UOB expects USD/SGD to stay within a narrow range of 1.2680 and 1.2715. However, over the coming weeks, the analysts maintain a lower bias towards 1.2670, provided that resistance at 1.2750 caps any potential rebounds.

The analysts also note that despite Friday's decline, there has been no significant increase in downward momentum for USD/SGD. Instead of continuing to fall, they expect the pair to trade within a range of 1.2680 and 1.2715.