Liquidity Term Structure

USD/SGD

Hourly liquidity profile

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• In the recent market conditions, the average liquidity for USD/SGD is highest around Tokyo close and London open. This is similar to pre-COVID market conditions.
• Liquidity in USD/SGD drops off sharply between 21:00 and 22:00 GMT (going into New York close) in the recent market conditions, relative to pre-COVID market conditions.
• We also notice an immediate and sharp drop in recent liquidity after London fixing hour (between 17:00 and 18:00 GMT), relative to pre-COVID market conditions.