Shadow over Singapore dollar
We expect the Singapore Dollar to continue to weaken against the USD. We have a medium target of USDSGD of 1.60 in mind though further weakness is certainly possible.
Singapore is highly impacted on the global economy so a global downturn will certainly impact Singapore. However, with strong fiscal policy and ample reserves the government will be tested in it’s ability to maintain a healthy economy in the midst of macro headwinds.