Published at 05:32 (GMT) 3 Aug
Recap: MAS MD Ravi Menon says Singapore core inflation expected to be in lower half of 0.5-1.5%. Headline inflation should pick up in 2016. Headline CPI likely to be negative for rest of the year.
Current policy stance remains "appropriate" for ensuring medium-term price stability. Reviewing GDP growth forecast for 2015. MAS expects Fed to raise rates this year. Next decision in October as scheduled.
On FX, EUR/USD at 1.0827-30,vulnerable to fresh 3-month lows below 1.0808. Lowest level since April 24 1.0783. Offers at offers 1.0850/ 1.0900, eye Greece news. Given the still long road ahead before the third bailout comes into fruition. Stoploss belwo 1.l0800.
EUR/SGD lower at 1.4820-25; as USD/SGD weighed as MAS Menon says current policy appropriate - signaling no easing. And no unscheduled meeting before October. EUR/SGD in range of 1.45-1.50, weighed on ECB QE/MAS pause. More downside seen.
USD/SGD at day lows of 1.3680, from 1.3720-25 after MAS Menon. Offers at 1.3710-20 now, bids at 1.3650-60 from local corporates.
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