February and March are seasonally strong months for the Dollar – ING
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The US Dollar managed to stay resilient on Thursday. February and March are seasonally strong months for the Dollar and 4.50% overnight deposit rates can keep the USD supported a little longer, according to economists at ING.
“The Dollar is seasonally strong (February and March) and the bar to put money to work outside of 4.50% yielding overnight Dollar deposits is not particularly low.”
“Today should see the January core PCE deflator at a sticky 0.4% month-on-month. In other words, the US disinflation/bearish Dollar narrative will find little from today’s data.”
“DXY looks like it can continue to press 105.00 and should USD/CNH trade back up to 7.00 on geopolitics, we could be looking at 105.60/106.00 on DXY.”
See – US Core PCE Preview: Forecasts from eight major banks, meaningful acceleration
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