Written by Bloomberg
Tuesday, 17 August 2010 14:58
Singapore’s dollar may weaken 2.7% against the Thai baht over the next month after a short- term moving average on a technical chart crossed a longer-term line, according to Tokyo-based Okasan Securities Co.
Singapore’s currency may fall to 23.1798 versus the baht in a week, 23.0134 in two to three weeks and 22.7445 in a month, Tsutomu Soma, a bond and foreign-exchange dealer at Okasan, said in an interview. He cited 10- and 20-day averages and a series of numbers known as the Fibonacci sequence for his forecast.
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