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- US Dollar Index to reach new highs above 93.50 as taper talk increases – Westpac
US Dollar Index to reach new highs above 93.50 as taper talk increases – Westpac
FXStreet reports that economists at Westpac discuss US Dollar Index (DXY) prospects,
“Fed Vice Chair Clarida added serious heft to the growing chorus of centrist leaning FOMC members in favour of scaling back stimulus, joining Waller, Daly and Bullard in recent weeks.
“Evidence has been building that peak US rebound momentum is in the rear-view mirror. But fresh all-time cycle high for the services ISM suggest that those parts most heavily battered by covid are still finding fresh gears".
“A July payrolls print in the 600-900K range, and another strong CPI next week will likely keep Jackson Hole and September FOMC taper announcement timelines intact.”
“DXY should continue to find support in the 91.5-92.0 area and as taper talk rises to a crescendo in Q3 could see new highs beyond 93.50.”
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