- Dollar set to hold gains through February – ING
Market news
14 February 2024
Dollar set to hold gains through February – ING
The US Dollar (USD) is the strongest performer in the G10 space this year. It looks like the Dollar will be able to hold recent gains for another couple of weeks, economists at ING say.
Setting up another good month for the Dollar
Tuesday's strong US January CPI release clearly does not provide the Fed with the confidence it needs to start cutting rates. Instead of powering the next leg of the risk rally, the CPI data has applied the brakes and suggests the Dollar largely holds onto its gains into the next big US price release – the January PCE data on 29 February.
The US Dollar Index (DXY) can trade on the firm side of a 104.60-105.00 range today.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page