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HomeUncategorizedDollar Index: Heading towards July high of 109.30 – ING

Dollar Index: Heading towards July high of 109.30 – ING

The dollar continues to perform well. That trend appears set to continue this week, culminating in Friday’s speech by Federal Reserve Chairman Jay Powell on the economic outlook, economists report to ING.

Dollar rises

“The focus this week should be some dovishly positive U.S. data and on Friday Fed Powell on U.S. Climax in speech on the economic outlook. The Fed is likely to be fairly comfortable with the market price of its policy rate this year (about 125bps hike to the 3.50-3.75% target range). Likely vulnerable to repricing will be the next 40 Basis point easing is priced in the second half of next year. The Fed is very keen to counter the idea of ​​a pivot in 2023.”

“As data from Europe and China remains weak this week – and natural gas prices have The surge has no end in sight – the dollar is expected to hold its gains.”

“Dollar index July high of 109.30 looks like the direction of the move.”

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