US Dollar Index: The 101.00-101.50 area could represent the bottom of the correction – ING
|The US Dollar Index stays on the back foot. Nonetheless, economists at ING expect DXY to find support in the 101.00/50 region.
Still feeling the long squeeze
“We think that the USD long-squeeze may add some extra pressure to the greenback in the coming days, but we see a higher probability this week that the dollar will find some stability or show signs of rebounding given the still supportive monetary and growth outlook for the US.”
“The 101.00-101.50 area could represent the bottom of the dollar correction.”
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