- Singapore’s GDP arrived at -4.0 % quarter-on-quarter, beating expectations of a 4.6 % decline
- However, the Singapore Dollar came under pressure nevertheless
- USD/SGD rallied from 1.38 to a high of 1.3996
- Heavy resistance at 1.40; the pair has not traded at that level since 2010
- A breakout would be significant and pave the way for a 1.45 test
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