The USD Index is Expected to Decline Toward 102, According to ING

EnclaveFX Ltd
Jan 10, 2023

FX According to economists at ING, the US Dollar Index will edge downward toward 102 as markets continue to trade with cautious optimism.

Be on the lookout for comments from Fed Chair Powell and the National Federation of Independent Business

We expect momentum to remain against the Dollar and favor activity/commodity currencies as long as neither Powell's comments nor the NFIB leads to a break in the narrative of a more relaxed Fed (and Thursday's US CPI will also be key to the story).

In view of investors' investment in non-USD assets, DXY appears biased towards 102.00.


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