FX_IDC:USDSGD   U.S. Dollar / Singapore Dollar
It is expected that the Singapore general election should be held within this year, coincide with the 50th anniversary and the death of the former Prime Minister Lee Kuan Yew recently.
On one hand, in order to get sympathy votes from people and also a weakening economy globally. It won't help the ruling party if the election were to be held in a period of recession.

I am expecting a potential double top and sideways movement until the general election, which we'll then see massive easing measures to boost exports.

"Singapore June Factory Output Falls 4.4% Y/y; Est. 0.4% Drop"

A target of 1.5579 in the near term shouldn't be of any surprise, if the FED were to target a rate hike of at least 1% aggressively over the next year as said from the 'leaked' document.
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