Singapore Dollar: Range-bound trading outlook against US Dollar – UOB

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD held a tight range on Monday, with the Singapore Dollar supported by a slightly firmer SGD NEER. They expect the SGD NEER to stay 1.30%–1.80% above its policy midpoint, implying USD/SGD should remain confined near current levels, with broader Asian FX still pressured by portfolio outflows and cautious sentiment ahead of US midterm elections.