Dollar to stay largely bid into Friday's Jackson Hole – ING

Market news

22 August 2023

Dollar to stay largely bid into Friday's Jackson Hole – ING

US Dollar Index declines toward 103.00. Economists at ING analyze USD outlook.

DXY very comfortable within the 102.70-103.70 range

There is only second-tier US macro data today, but with US Treasury yields continuing to push higher, headwinds to the equity rally are growing, and temporarily parking funds in the Dollar paying 5.30% in overnight rates doesn't seem like a bad idea.

We expect the Dollar to stay largely bid into Friday's Jackson Hole speech from Fed Chair, Jay Powell.

DXY looks very comfortable within the 102.70-103.70 range.

USD/CNH faces some near-term consolidation – UOB

Belgium Consumer Confidence Index dipped from previous -6 to -7 in August

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