USD Index: The correction could have a little more to run – ING DollarIndex Banks
Index has fallen 4% in a single week. Economists at ING believe that the correction could run a little further.“This week is a quiet one for data and central bank policy action – meaning it is hard to rule out this correction running a little further. Could the DXY correction extend to 105 ? Yes, but we would think 105 might be the extent of it.”
“We do have a preference for DXY going higher later this year, but we have to allow position adjustment to run its course. That could see DXY trade 106.50-107.50 today.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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