The US dollar has been losing value against the Singapore Dollar for the 7th consecutive day after Singapore showed an efficient flattening in the number of new cases of Covid-19. This also happens amid growing concerns about inflation in the U.S. and the possibility that the Fed will shift its stance from dovish to hawkish earlier than expected, in 2023. Investors should pay attention to the Singapore Dollar Consumer Price Index (CPI) to be released tomorrow, April 23rd.
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From a technical point of view, the USDSGD may find a very strong level of support around 1.3160, the lowest price since April 2018.
