Singapore dollar stuck in tight trading range

Risk currencies are likely to remain out of favour.

IG Markets Singapore said:

The Fed launched its much-anticipated QE4 last night which saw the dollar weaken against major currencies before regaining some ground.

The Bernanke Put, as Fed quantitative easing is referred to, now sees a total of $85 billion a month injected into the US economy, some of which will find its way into Asian currencies.

But this news did little to turn the head of the Singapore dollar as it remains stuck in a tight trading range, hugging the $1.22 threshold.

As we ease into the holiday season, and with a fiscal cliff deal not yet agreed, risk currencies are likely to remain out of favour for now.

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