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SGD/MYR to fall further, initiate short SGD/THB - ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 31, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Khoon Goh, Senior FX Strategist at ANZ, sees further scope for SGD/MYR cross to decline.

    Key Quotes

    “We extend the target for SGD/MYR to 2.85 (from 2.90).

    USD/THB has been resilient to the selloff in the rest of USD/Asia, and we see scope for some catch-up. With the SGD/THB cross at elevated levels, we see the baht as a good addition to our short SGD crosses trades.

    Hence, we recommend selling 3M SGD/THB forward at 26.04 (spot reference 26.07), targeting 25.45 with stop-loss at 26.35.”
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