The US Dollar Index builds on Friday's gains and holds in positive territory near 1110.00. Economists at ING expect DXY to retest the highs later this year.

Break of 111.00/10 could open up a move to the 111.80 area

“It looks as though the dollar's month-long, 4.5% correction could have ended last Thursday and events this week could prove a catalyst to send the dollar back towards the highs”

“Our base case does see the dollar retesting the highs later this year.”

“A break of 111.00/10 in DXY today could open up a move to the 111.80 area.”