SGD crosses: Buy dips for JPY/SGD, AUD/SGD and still bearish GBP/SGD - ANZ

Irene Cheung, Senior FX Strategist at ANZ, had reviewed their SGD crosses in the wake of MAS’s shift to a neutral S$NEER policy last week.

Key Quotes

“The MAS’s move reinforces our view of buying dips for EUR/SGD and JPY/SGD. However, we remain bearish on GBP/SGD.

AUD/SGD has performed better than our expectation. In the near term, we continue to favour buying dips for AUD/SGD. Trade the range for NZD/SGD, a good candidate for yield enhancement investments.

We expect SGD to outperform the CNH but underperform the MYR.”