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- US Dollar Index to climb towards the 96.00 level into year-end – MUFG
US Dollar Index to climb towards the 96.00 level into year-end – MUFG
FXStreet reports that economists at MUFG expect the DXY to hit the 96.000 level.
“The next important resistance level is provided by the high from 25th September 2020 at 94.742. On that occasion that proved to be a bearish turning point for the greenback. However, on this occasion fundamentals are aligning in favour of an extension of USD strength heading into year-end.”
“With the Fed shifting in a more hawkish policy direction, there still appears scope for the US rate market to price in more tightening into the coming years and helping to support a stronger US dollar.”
“The relative appeal of the US dollar is continuing to be boosted in the near-term by building concerns over the outlook for global growth.”
“We expect the US Dollar Index to head towards the 96.000-level.”
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