Forex Flash: USD/SGD upward correction faces 1.25 - ANZ

FXstreet.com (Barcelona) - The USDSGD edged higher today on the back of weaker-than-expected Singapore PMI data and overall USD strength, with ANZ senior FX strategist Khoon Goh now expecting the pair to remain well bid for the rest of the session towards 1.2500 resistance level, which should see price stalling. "I still think it's bound within the 1.2440 to 1.2500 range," Goh says. "This week, we still have the European Central Bank meeting Thursday and U.S. payrolls data Friday, but I think we're more likely to get a bigger catalyst for a breakout from the (Federal Open Market Committee) meeting next week."