GBP/SGD AUD/SGD AND SGD/MYR

GBP/SGD (SPOT RATE 2.0079)

– has been on a marathon since July and traded at a 1 year high of 2.0238 yesterday.
– looks like it would gradually edge higher from here towards 2.05 in the next 6 weeks and we should consider buying at 1.98-1.99 which should be the support.

1 month SGD dual currency deposit/investment against GBP deliverable at
GBPSGD 1.98 : 2.5%
GBPSGD 1.985 : 3.3%
GBPSGD 1.99 : 4.18%

AUD/SGD (SPOT RATE 1.1758)

– 5 Aug year low of 1.1257 and has retraced off a double bottom chart to 1.1755 today.
– I notice a similarity between the AUDSGD chart now and in 2010 when it had a similar double bottom off the low then of 1.13 as well. The climb up was not easy.

 

1 month SGD dual currency deposit/investment against AUD deliverable at
AUDSGD 1.15 : 4.42%
AUDSGD 1.145 : 3.3%
AUDSGD 1.14 : 2.48%

 

SGD/MYR (SPOT RATE  2.5767)

– the magnitude of the move in the past 4 months escaped me till I viewed it in the context of the past 5 years.


– somehow the recent headlines on recently elected government’s economic plans just stopped short of accusing the leaders on a severe backtrack on their election campaign promises of a more racially equitable economy.

http://sg.news.yahoo.com/few-plans-another-plan-bumiputeras-090032335.html

– do not think Iskandar prices are going anywhere anytime soon.
– SGDMYR remains a buy in the near term at 2.50.

 

Qualifier : The rates mentioned above are not verified and not what any bank offers. They are priced off the writer’s own model using approximate market vols and does not include the margins that banks typically charge customers for execution.

 

GOING FORWARD, I WILL BE PUTTING THESE DAILY RATES UP FOR REFERENCE ON THE FORUM PAGE.