Why is US Dollar Strengthening against S$?

[Dennis Ng]

After falling to a low of 1 US$ to S$1.35, in recent months, US$ has been strengthening against S$, touching a high of S$1.52 recently.

Here's my personal opinion on why SGD is weakening against USD:

in recent months, there have been Global sell-off of stocks, commodities and other investments. After selling, investors need to park their money somewhere.

Despite what is happening in U.S., most people still have confidence in U.S. economy and U.S. government. Thus, there had been a huge influx of money to buy up short-term U.S. treasuries (less than 1 year to maturity).

As a result of this buying up of USD, USD has strengthened against most currencies, including S$ and Euro, in recent months.

Anyone else can have a different opinion on above.