The US dollar opens a new week slightly softer. But decent US Q3 GDP growth and higher inflation readings this week should keep the dollar bid on dips, economists at ING report.

Expect continued high FX volatility

“This week's US data calendar should maintain a hawkish Fed. Third-quarter GDP should come in around 2% quarter-on-quarter annualised and the September readings (both headline and core) for the PCE price deflator should both rise and move further away from the Fed's year-end expectations.”

“Expect continued high FX volatility and DXY probably bouncing around in a 111.50-112.50 range.”