MAS to maintain "modest" currency appreciation
Bhanu Baweja, FX strategist at UBS in Singapore, said the sustained high commodity price environment – likely to continue in coming quarters – should indicate to MAS that global demand is quite strong. This represents further support for a strong Singapore currency.
Indeed, in its past two monetary policy statements, MAS had placed a heavy emphasis on high commodity prices. "That is not only inflationary in itself, but it also sends you a strong signal that growth is quite strong," explained
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