As it was informed by "Market Leader (US)"
How will the change of power in Singapore affect the national currency?
Yesterday the BBC reported about the resignation of Lee Kuan Yew, who was the first Prime Minister of the Republic of Singapore, governing for three decades, and the Minister Mentor from 12 August 2004 till 17 May 2011. Probably it was caused by the worst election results for the ruling People's Action Party since 1965. The Minister Mentor said that it was time to give way to the youth.
How will the change of power in Singapore affect the Singapore Dollar? According to the Department of studying
, USDSGD keeps developing the downtrend. The latest bullish wave has failed to break above the MF pivot and sloping channel (which could have helped to initiate a full-grown correction). Consequently, the downtrend will be continued. The closest support level will be 1.2212, the historical low.