FX USD

FX USD: USD/SGD popped higher overnight, activating the daily Bollinger uptrend channel, after the U.S. Federal Reserve's policy meeting. The Fed's more-upbeat-than-expected assessment of the job market spooked U.S. dollar shorts. Some analysts now think the Fed could raise interest rates sooner rather than later. The Bollinger uptrend channel supports USD/SGD at 1.2773 on an intraday basis and could lead the pair to the year-high of 1.2830. Both daily and weekly charts now display the same bullish technical bias, suggesting the U.S. dollar rally extends in the medium term. USD/SGD is now 1.2785 from its last close of 1.2776.