Singapore’s dollar is poised to gain 1 percent against the Thai baht to its highest level in almost three months, based on technical analysis cited by Mizuho Corporate Bank Ltd.
Singapore’s dollar will advance 0.9 percent to its strongest level since May 19 after the currency yesterday completed a “double bottom” against the greenback, according to Okasan Securities Co.
Su Sian Lim, a Singapore-based strategist at Royal Bank of Scotland Group Plc, comments on the outlook for the Singapore dollar in a telephone interview today.
Currency strategists are abandoning their forecasts for a record-setting rally in the Singapore dollar as government measures to rein in property prices reduce pressure on the central bank to cool inflation.
Axel Merk Buying Singapore Dollar