Friday, 14 September 2012

USD/SGD Extends Losses in Asia; May Keep Sliding

The USD/SGD falls further in Asia and is quoted at 1.2215 late on Friday vs 1.2288 on Thursday as outlook for the greenback turns bearish after the U.S. Federal Reserve's easing measures. Intraday, the pair is quoted as low as 1.2206, the lowest since Sept. 9, 2011. "The market has been bearish on the (U.S.) dollar after QE3. We expect the pair to fall a little more before stabilizing," says a trader at a regional bank, who tips initial support near 1.2200 followed by 1.2100. 

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