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Other regional currencies such as the Australian dollar are also set to benefit, driven by commodity-linked demand fueled by China’s reopening. The Thai baht is poised for gains as well, supported by the return of Chinese tourists and increased trade activity.
The Singapore Dollar’s Position: Is It Time to Turn Away?
Considering the current exchange levels, many believe the Singapore dollar is near its competitive range. Since 2015, USD/SGD has largely traded between 1.31 and 1.46, with current levels approaching the lower end of this band. Historically, when the dollar has been at similar levels, it has later risen significantly—peaking at around 1.38 in 2018 and 1.37 in 2021.