Goldman, Citigroup Tell Clients to Bet Big on Singapore Dollar
- Investors should buy the local dollar on dips, Citigroup says
- MAS has tightened policy twice this year to counter inflation
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Singapore’s dollar is emerging as the top bet for Wall Street’s biggest banks as wagers the central bank will extend policy tightening bolsters demand for Southeast Asia’s top-performing currency.
Goldman Sachs Group Inc. favors the Singapore dollar the most among Asian currencies, along with Thailand’s baht. Citigroup Inc. recommends buying the currency on dips, while RBC Capital Markets says further policy tightening by the Monetary Authority of Singapore -- which uses the nation’s foreign exchange as its main policy tool -- will only turbocharge its gains.