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Singapore upswing to stay strong despite 2010 risks

Asia’s second Q3 GDP release showed Singapore’s recovery remained powerful. We expect the upswing to stay strong for some time, even though manufacturing will be thrown around by the volatile biomedicals sector, and external conditions will likely deteriorate during the course of 2010. A move to a tightening bias on the Singapore dollar (SGD) FX rate still remains probable in April 2010.

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