AUD/SGD: Looking for a new record low of 0.75 – ANZ

It has been a dramatic month for AUD/SGD, as analysts at ANZ Bank recap. The pair is currently trading at 0.8079.

Key quotes

“We remain bearish in AUD. Even though the MAS went for a neutral S$NEER policy coupled with a re-centering as we expected, the easing is less aggressive than RBA.”

“Given our bearish outlook, any rally is a sell opportunity. The current level favours sellers of the cross.”

“On the downside, we are looking for a new record low of 0.75 before a gradual recovery thereafter.”