Another likely MAS move in April will weigh on the SGD

The Monetary Authority of Singapore (MAS) will likely lower the centre of the SGD nominal effective exchange rate (NEER) policy band by 2% (see On the Ground, 11 March 2015, 'Singapore. 

Standard Chartered notes its expectations as follows...

• We expect another MAS move in April'). We expect no change to the slope or the width of the policy band. While the market expects further easing by the MAS, we do not think it is completely priced in. 
  
  
• As such, a re-centring lower of the policy band will give further room for SGD NEER weakness, whichshould translate into higher USD-SGD.