SGD crosses: A mixed bag as Singapore economy bottoms out - ANZ

Irene Cheung, Senior FX Strategist at ANZ, explains that as the Singapore economy bottoms out and the MAS is likely to maintain a neutral S$NEER policy in April, and expects the SGD to outperform in some crosses while underperforming against others.

Key Quotes

“We remain bearish in EUR/SGD and GBP/SGD, more on political risks than on fundamentals. We also expect SGD/MYR to be supported even though the pair is currently close to a record high.”

“However, we favour buying dips in AUD/SGD and NZD/SGD. We recommend going long in AUD/SGD if the pair dips further to the 1.05 handle which we see as the support level.”