The pair remained steady Monday, supported by a stronger USD and stable SGD Nominal Effective Exchange Rate.
USD/SGD closed at 1.2788 on Monday, trading within a narrow band of 1.2759 to 1.2803. The pair’s stability was driven by a firmer US Dollar and a steady Singapore Dollar Nominal Effective Exchange Rate.
The range-bound movement follows recent sessions where the pair has shown limited volatility. Analysts noted no significant shifts in underlying fundamentals, keeping the exchange rate within its recent bounds.
Market reaction remained muted, with traders awaiting fresh catalysts for a breakout from the current range.