Analysis from ANZ on the Singapore dollar, this in summary.

  • fundamentals and policy settings bode well for SGD
  • another driver of SGD is risk sentiment, SGD typically performs relatively well in times of risk aversion/modest risk appetite
  • downside risk in USD/SGD remains the path of least resistance

ANZ have a more mixed picture on SGD crosses:

  • slight upside risk in EUR/SGD in the near term
  • a downside risk in GBP, JPY and NZD against the AGD
  • a downward bias in SGD/CNH
  • broadly steady trend for AUD/SGD