Forex Flash: USD/SGD a sell on rallies - ANZ

FXstreet.com (Barcelona) - Today the USDSGD had some heavy selling to fresh 3-week lows at 1.2198, just 25 pips shy of mid Sept 1-year lows at 1.2175 once MAS "left its policy intact", says Irene Cheung, FX Strategist at ANZ. In the "statement, it appears that the central bank remains concerned about inflation," Irene explains. "We consider sustained pressure on core inflation as the prime reason for today's policy decision," the analyst notes, adding: "We also see USDSGD as a sell on rallies," the bank concludes. USDSGD trades last at 1.2224, falling from session high previous to the news at 1.2291.