USD Index: Further consolidation looks likely in a 102.00-102.50 range – ING

Market news

17 January 2023

USD Index: Further consolidation looks likely in a 102.00-102.50 range – ING

US Dollar looks to stabilize amid cautious markets. DXY is set to trade within a 102.00-102.50 range today, economists at ING report.

There are no Fed speakers during European hours today

“The Dollar itself is steady. The US data calendar only really kicks off with what may be a soft December US retail sales release tomorrow. And there are no Fed speakers during European hours today.”

“Some further DXY consolidation looks likely in a 102.00-102.50 range today. A downside break could emerge in Asia tomorrow, were the BoJ to again tweak its 10-year JGB yield target.”

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