AUD's rise expected to continue, some Singapore listcos may benefit

Singapore

THE Australian dollar (AUD) has hit three-year highs against the Singapore dollar (SGD) and the US dollar (USD), and the currency could continue to appreciate, strategists say. This may also benefit some Singapore-listed counters that have revenue exposure to Australia.

The AUD/SGD was trading around 1.0431 on Monday, its highest level since February 2018, while the AUD/USD was trading around 0.7886, also close to its highest level in three years.