Besides Gold, Singapore Dollar has a decade-long bull run
Gold may be on record for decade long bull run
We all know how Gold moved from sub-200 USD per ounce to the current price. This long bull run might well make it into the Guinness Book of World Records.
Little did many other people know (including Singaporeans) that the Singapore Dollar or SingDollar has also had a wonderful long bull run against the USD since 2002. What’s more, the Singapore Dollar’s gain was not marred by the kind of volatility that AUDUSD and NZDUSD went through between 2008 -2009.
We are looking at a high for the USD per unit trading to 1.8315 SingDollars in 2001, the latter strengthening to 1.1986 in August 2011.
Bull run likely to continue
Without a bullish reversal pattern, the run is likely to continue.
Possessing a small export driven economy that also imports almost all of its raw materials and necessities, the nation is walking a tight rope. On one hand an appreciating currency is causing the nation to lose its export competitiveness. On the other hand, imported inflation threatens the way of life in the country.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
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