Following Thursday's heavy selloff, the greenback is holding its ground against its rivals early Friday. Economists at ING expect the US Dollar Index (DXY) to find demand on dips below 104.

US economy can best handle higher rates

“We think the pricing of the Fed tightening cycle has the longest staying power –  keeping short-end US rates and the dollar bid this summer.”

“Expect DXY to find continued demand under 104.”