- USD Index: Losses below 105.50 would suggest a bit more softness ahead – Scotiabank
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20 October 2023
USD Index: Losses below 105.50 would suggest a bit more softness ahead – Scotiabank
US Dollar trades mixed to lower on the day as US yields slip. Economists at Scotiabank analyze Greenback’s outlook.
Weaker tone in the USD since the late September peak
On the charts, the soft close for the US Dollar Index (DXY) on Thursday underscores the slightly weaker tone in the USD overall since the late September peak in the index.
Losses below 105.50 would suggest a bit more softness ahead.
See: Dollar is likely to have a hard time making further gains – Commerzbank
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