USD Index set to tick down toward 102 – ING

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FX markets continue to trade with cautious optimism. Economists at ING expect the US Dollar Index to edge lower towards the 102 level.

“Assuming that neither Powell’s comments nor the NFIB breaks the building narrative of a more relaxed Fed (and Thursday’s US CPI will also be key for this story), we would expect momentum to remain against the Dollar and continue to favour activity/commodity currencies.”

“DXY looks biased towards the 102.00 as investors put money to work on non-USD assets.”

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