In the view of economists at Westpac, the US Dollar Index (DXY) is likely to stay well supported in the coming days and weeks. A clean break of 104 is opening the door to a run at 20-year highs near 107.

DXY uptrend in very good shape

“DXY uptrend in very good shape, the Fed on a resolutely hawkish path, while events in the Eurozone and China weigh on global growth expectations.”

“A break of 104 opens the door to a run at 20-year highs near 107.”