Sing dollar too strong: DBS currency strategist

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THE Singapore dollar (SGD) is too strong as the greenback continues to struggle and is becoming oversold, said Philip Wee, DBS Bank senior currency strategist.

Year to date, the SGD has gained over 6 per cent against the US dollar (USD), and with the Thai baht are the two strongest South-east Asian currencies.

The SGD stood at 1.3597 on Wednesday, slightly off its year high of 1.3553 on July 31.

DBS 1a ReutersUSD/SGD came under heavy selling pressure in July, and it has lifted the SGD nominal effective exchange rate (NEER) into the strongest quartile of its zero appreciation policy band, he said on Tuesday.

The SGD is “too strong”, said Mr Wee, referring to the SGD NEER being in the…

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