USD/SGD: On the Cusp of a Bearish Breakout as Singapore Dollar Jumps

The USD/SGD exchange rate has remained under pressure in the past few weeks as the US dollar has softened recently. It was trading at 1.2725 on Wednesday, down from the year-to-date high of 1.2925. The USD/SGD exchange rate has remained in a downward trend in the past few weeks as the greenback has pulled back across the board. Data shows that the US Dollar Index (DXY) has dropped to $98 from the year-to-date high of $100.65. The dollar has dropped recently as investors have embraced a risk-on sentiment, as evidenced by the ongoing stock market surge, with the Dow Jones and S&P 500 indices rising to a record high this ...