0707 GMT - The U.S. dollar's upward momentum against Singapore dollar is building swiftly, based on daily charts, says Quek Ser Leang of UOB's Global Economics & Markets Research in a research report. The currency pair rose sharply last Friday before gapping higher at today's open, the markets strategist notes. To sustain the rapid build-up in momentum, USD/SGD must stay above 1.3520, the strategist says. As long as this level isn't broken, USD/SGD could rise above resistance in 1.3751-1.3763 area, Quek says, adding that the 1.3751 level marks last month's high and 1.3763 is the high in 2023. USD/SGD is 0.1% lower at 1.3653. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 02:07 ET (07:07 GMT)
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