FD in USD with 3.6% interest, go for it?

While browsing through internet this week, I came across an advertisement from a bank (forgot which bank already, probably DBS) promoting FD in USD with interest rate of 3.6%. 

The interest rate is quite generous considering what is offered by other currencies. However, is this a good time to convert some of my money to USD?

The last time I worked on USD was USD is dropping, bad for US? on 25th May 2025. Before that was Is USD in trouble on 22nd March 2025. Apparently the weakening of USD is alarming enough for my attention.

I estimated at the time of the support at SGD1.2733, it briefly breached this level, rechaing a new low of SGD1.26981 before reversing upward. Is this the end of its down trend?

Fig 1. USDSGD weekly chart

Since its reversal, it was rising up, at the same time, its gradient is much gradual, indicating a lack of momentum. Further to that, it is stopped and reversed at its 55-week moving average just the week before.

At the same time, its move is supported by the crossing of its MCAD downward. 

I believe USD has not yet completed its downtrend. Not just yet.

At this point of time, its closest support level come from 61.8% projection support zone between SGD1.24438 to SGD1.2701. 

If it breaches this zone, I see a stronger support at 1.20428, which 100% projection of its major and minor move.

So which level is more prudent?

It really depends, if the downtrend this round is as gradual as its correction climb, I suspect it still be stopped by its 61.8% projection.at SGD1.2701. Otherwise, we will see a really new low at 1.20428 or even lower.

The thing here is, a weaker USD is really not good for US economy, it means smaller purchasing power on imports with things getting expensive, in another word, inflationary in play. Why? 

With globalization, it is difficult to avoid utilizing imports even at production level, it will influence the pricing of goods in one way or another. It will be the service sector that is less affected, Afterall, it is much easier to switch to locals as long as the wages are lowered compared to foreign hirings or outsource.

Well, guess I will have to wait a little longer before making a move for USD deposit then.