USD Index is poised to remain soft and could retest the recent lows near 101 in the short run – Scotiabank DollarIndex Banks
This week’s key central bank meetings are out of the way. So where now for the USD? Economists at Scotiabank analyze the greenbackUSD is poised to remain soft and could retest the recent lows in the DXY index near 101 in the short run but a decisive move through the recent range lows may have to wait until we get a stronger sense of how far central banks will push on with policy tightening.
Broadly though, the short- and medium-term backdrop appears more negative for the USD which should curb the USD’s ability to recover and drive better selling interest on moderate rebounds.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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