Financial markets seem calmer this Wednesday despite the continuing tragedy in Ukraine. The US Dollar Index closed in negative territory on Tuesday and was last seen posting small daily losses below 99.00. Economists at ING expect DXY to consolidate before making a push to 100.
Consolidation comes through, but dollar to stay bid on dips
“Expectations for the Federal Reserve tightening cycle have remained quite robust and we would continue to back the dollar over coming months, where not only energy independence and liquidity support it – but also widening interest rate differentials.”
“DXY looks to be consolidating before making a push to 100 over the coming days/weeks.”
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