Singapore Dollar: Range-bound consolidation persists against US Dollar – UOB

FXStreet Insights Team FXStreet

United Overseas Bank’s (UOB) Quek Ser Leang notes that USD/SGD has lost upside momentum after briefly breaching support at 1.2925, shifting the short-term bias to neutral. In the near term, the pair is expected to hold within 1.2920–1.2950, while over the next 1–3 weeks UOB sees a broader 1.2870–1.2970 range. Longer term, strong weekly momentum still favors a push above 1.3000 toward 1.3095.

Dollar-Singapore Dollar holds neutral bias

"24-HOUR VIEW: Yesterday, we indicated that USD “is likely to trade between 1.2930 and 1.2960.” However, USD edged to a low of 1.2922. The decline did not result in any clear increase in downward momentum, and instead of continuing to decline today, USD is more likely to trade in a range between 1.2920 and 1.2950."

"1-3 WEEKS VIEW: After holding a positive USD view for more than a week, in our most recent narrative from last Friday (26 Jun, spot at 1.2965), we highlighted that USD “needs to build on its gain soon, or a breach of 1.2925 (‘strong support’ level) would indicate that the 1.2991 high seen two days ago is the extent of the current USD strength.” Yesterday, USD edged below 1.2925, printing a low of 1.2922. Upward momentum has faded, and we are revising our view to neutral. For the time being, USD is likely to trade in a range between 1.2870 and 1.2970."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD slips below 0.70 as Bullock dovishness trumps soft PCE

The Aussie Dollar posted losses of 0.57% against the US Dollar on Wednesday, even though US data trimmed hawkish bets on the Federal Reserve, while the dovish tilt of RBA’s Governor Michele Bullock weighed on the antipodean. At the time of writing, the AUD/USD trades at 0.6947 after peaking at 0.6995.

USD/JPY stays weak below 157.00 amid Japanese intervention risks

USD/JPY keeps losses below 157.00 in the Asian session on Wednesday, as hawkish BoJ expectations, along with intervention risks, underpin the Japanese Yen, countering dismal domestic factory output and retail sales data. Meanwhile, a broad US Dollar retreat also collaborates to the pair's downside.

Gold meets resistance just above $4,200

Gold now makes a U-turn and recedes toward the $4,150 region per troy ounce on Wednesday. Indeed, the precious metal fades the earlier move past the key $4,200 yardstick and retreats marginally as the US Dollar trims part of its daily losses amid mixed US Treasury yields.

Bitcoin and Gold Outlook: BTC recovers $84K, XAU slips amid softer US PCE

Bitcoin (BTC) gains traction, rising above $84,000 on Wednesday as buyers return after softer-than-expected United States (US) inflation data. The Crypto King marks a second straight day of gradual recovery, building on the demand area between $82,000 and $83,000. Gold (XAU/USD), meanwhile, slides toward $4,100 after being rejected at the daily high of $4,219.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro (EUR) an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082.