Whenever the European Crisis is abated or softened down, US$ will go down against the S$. Whenever they discovered another PIIGS nation getting into trouble again, US$ will rise up against the S$.
If you are thinking of changing US$ to S$, it may be a good time during this interim period. Personally, I would choose between 1.20 to 1.23.
Thereafter, I believe US$ should be appreciating in the mid term when European crisis resurfaces in a larger scale!
FYI, Jim Roger is reportedly buying US$ and saying that US$ is a lousy currency in the long run. I believe he also feel that US$ should be appreciating in the mid term.
Nobody know for sure what will happen in the very LONG TERM!
note: PIIGS stands for Portugal, Italy, Ireland, Greece and Spain.