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- US Dollar Index has the 97.70 high in its crosshairs – ING
US Dollar Index has the 97.70 high in its crosshairs – ING
Economists at ING expect the dollar to stay in demand globally and keep watch for USD funding stress.
Flight to dollar quality/liquidity should continue
“What is clear is that commodity prices, (gas, oil, certain precious/industrial metals and softs such as wheat) will continue to rise and this supply shock should be a negative for activity and equities.”
“We will keep a close eye on the cross-currency basis swap market for any kinds of stress as well as seeing whether there is any increased demand for dollar liquidity at e.g. the ECB 7-day USD auction. Suffice to say that the dollar should continue to be the preferred safe haven in these unprecedented times.”
“DXY is heading back to the high at 97.70 and could break higher still.”
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