UOB forecasts USD/SGD consolidation between 1.2890 and 1.2990 over the next 1-3 weeks amid fading downward pressure.
USD/SGD has stabilized after last week’s sharp decline, with UOB noting a slowdown in downward momentum. The pair is expected to trade between 1.2900 and 1.2935 intraday, following a drop to 1.2896 before recovering to close at 1.2919 on Friday.
UOB maintains a neutral stance for the 1-3 week horizon, revising its expected range to 1.2890–1.2990. The bank previously highlighted potential support at 1.2890, which was tested but not breached. Longer-term, UOB still sees upward potential toward 1.3000 and 1.3095.
No immediate market reaction was specified, though the range-bound outlook suggests limited volatility in the near term.