- Dollar’s newfound resilience could still consolidate into Thursday’s US inflation numbers – ING
Market news
8 August 2023
Dollar’s newfound resilience could still consolidate into Thursday’s US inflation numbers – ING
It has been a slow start to the week in the currency market, with the Dollar being mixed. Economists at ING analyze USD outlook.
Currencies starting to detach from bond dynamics
With the exception of the Yen, it appears that most G10 currencies are losing their direct exposure to swings in US bond yields. At this stage, it would probably take a larger swing in yields to cause a substantial spill-over into FX than it did before the US credit downgrade by Fitch.
Still, we expect some consolidation of the Dollar around current levels into Thursday’s inflation numbers.
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