USD Index could see another 2% fall – SocGen
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The US dollar has stayed lower. In the opinion of economists at Société Générale, the US Dollar Index (DXY) could see a fall of another 2%.
“The DXY has not managed to revisit last month’s high of 114.78 despite the new high for 2Y UST yields, and that’s certainly not positive.”
“There could be another 1.5-2% in this down-move if we follow the logic of early October, but cheaper levels could attract buyers before the November FOMC.”
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