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- No reason to fight Dollar strength this week – ING
No reason to fight Dollar strength this week – ING
Economists at ING expect the US Dollar to remain solid the rest of the week.
Central bank communication at Sintra has stayed pretty hawkish
Central bank communication at this week's Sintra conference in Portugal has stayed pretty hawkish. Expectations for the duration and terminal rates for tightening cycles are being revised higher. This is most credibly being done in the US, where the economy appears to be outperforming. This is allowing the Dollar to stay quite bid – especially against those currencies without much/any interest rate difference such as the Japanese Yen and the Chinese Renminbi.
Expect the Dollar to stay bid ahead of what should be another high US core inflation print tomorrow.
DXY looks biased to 103.30/35 and possibly 103.65 – as long as initial claims do not spike higher today.
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