have seen a long USD/SGD view as a good 'long- haul' trade to play for USD strength and US yield re- pricing. However, the lesson from 2013 was that USD/SGD took its cues more from the USD/G10 TVVI than its USD/Asia peers which often behaved Indian exports have been a bright spot in Asia 15 10 5 -10

delta AUD/USD call Theme #5: NOK o'Clock: Buy NOK/SEK Theme #6: No Chinese Quick Fix: Buy USD/CNH calls Theme #7: Japanese Takeaway: Buy USD/KRW, USD/SGD, buy MYR/JPY Theme #8: EMEA Reality Check: Buy PLN/CZK, buy EUR/HUF and USD/ZAR calls, buy USD/TRY put Theme #9: Mexican Siesta: Take profit on sh

iew that USD strength will broaden out to GI0 low-yielders like EUR, and continue to gain ground against the JPY is thus an important tailwind for USD/SGD. SGD is also one of the most overvalued currencies globally, with consensus across a broad range of models. Moreover, domestic vulnerabilities hav

have seen a long USD/SGD view as a good 'long- haul' trade to play for USD strength and US yield re- pricing. However, the lesson from 2013 was that USD/SGD took its cues more from the USD/G10 1VVI than its USD/Asia peers which often behaved Indian exports have been a bright spot in Asia 15 10 .5 -10