The cross rate GBP/SGD is not among Forex traders' most beloved currency pairs. Even though the U.S.dollar is not a part of the pair symbol, the impact exerted by it is very considerable. This can be seen, if you combine two graphs of GBP/USD and USD/SGD. In the result you will get an approximate GBPSGD chart.
As the U.S.dollar impact on both currencies is significant, you have to consider all main economic indicators released in the United States for correct prediction of the instrument's future trend. These indicators include: discount rate, GDP, unemployment, the number of new jobs and so on. Note that two currencies are able to react to the changes in the U.S.economy at a different speed.
This pair is rather exotic and it fluctuates in a calm way. The Singapore dollar is one of the most stable currencies in the world. The economy of Singapore has low inflation rate, with exports prevailing over imports amid high foreign exchange reserves of the country.
Singapore is a developed industrialized country with high level of life. The economic advance has been defined by the country's favourable position at the crossroads of major shipping routes, which makes it possible for Singapore to trade actively with all major economies of the world. Now the country mainly exports home electronics and information technology products, pharmaceuticals, shipbuilding products and services in the areas of finance. Exports influences the economy of this country and its national currency to a great extent.
Singapore is one of the most developed countries in Asia, that is why it is included in the group of so-called "The Four Asian tigers", with a fast economic development as high as in the U.S.A., Germany, France, Great Britain, etc.
In case you prefer trading cross rates, do not forget that brokers most often set a higher spread for them, than for more popular currency pairs. Thus before working with cross rates, find out all conditions offered by the broker for a certain trade instrument.
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