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Singapore Dollar forwards tumbles to a four-year low at -15.64 points
But traders expect central bank’s policy to be on hold.
The local dollar’s six-month forwards slipped to minus 15.64 points as the current market shifted to signal expectations the Monetary Authority of Singapore will refrain from easing next month.
Bloomberg data revealed the current rate is the lowest since July 2012. It reached 32.33 points on June 28 following Brexit. Futures contracts show the likelihood for the U.S. Federal Reserve to raise interest rates dropped to 22% after recent uninspiring U.S. economic data.
Despite this, analysts don’t see Singapore diving into a recession.
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