The US Dollar Index surged to its highest level since July 2002 above 111.70 following the US Federal Reserve's decision to hike its policy rate by 75 basis points (bps). Economists at ING expect the greenback to get even stronger.

Dollar to remain bid on dips

“Expect the dollar to remain bid on dips as confidence grows that deposit rates for the world's most liquid currency will push above 4% over the coming months.”  

“DXY is flying. Expect corrections to prove shallow.”