USD Index may find support in the 101.30/102.00 range this week – ING

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The Dollar starts the week gently offered. The US Dollar Index declined below 102.00 – economists at ING expect DXY to find support in the 101.30/102.00 range.

“The data calendar in theory should keep the Dollar on the soft side this week. However, DXY has come quite a long way already and we doubt whether the market is ready to add to short Dollar positions ahead of next week’s FOMC meeting – which could pose a positive event risk to the Dollar should the Fed push back on the 50 bps of easing the market now prices for this year.”

“DXY may find support in the 101.30/102.00 range this week.”

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