• USD/SGD rallies to 1.2951, aiming to reinstate bullish chart bias

• Wed close above current level will engage Bollinger uptrend channel

• Gains seen across most USD/AXJ as rising USD/JPY inspires bulls

• Underpinning the move, UST yields rose Tues; 2y 4.164%, 10y 4.457%

• US Fed fund futures now imply 80% chance of Sept hike

• But risk-on seen in early Asia stocks may limit USD gains; STI +0.3%
SGD


(Ewen Chew is a Reuters market analyst. The views expressed are his own.)