Convert SGD to AUD
The SGD/AUD forex pair experiences significant volatility on the release of key economic data from Singapore and Australia, including GDP, inflation, employment rate, trade balance, industrial production, retail sales and PPI.
Both SGD and AUD experience fluctuations whenever the Monetary Authority of Singapore (MAS) and the Reserve Bank of Australia (RBA) announce any changes to the monetary policy and interest rates. For instance, if the RBA cuts interest rates or turns dovish in its monetary policy, the AUD turns weaker, causing SGD/AUD to trade bullish, and vice versa.
SGD/AUD soared to a high of 1.2529 on 19 March 2020. This was the strongest level this currency pair traded at in the year 2020.