This could be another good week for the Dollar, according to analysts at ING.

Dollar can find more support

“Given the recent positive short-term reaction of the Dollar to progress on debt-ceiling news and assuming the stalemate will finally be resolved some time this week, we could see the greenback staying supported, especially given that the lack of key data releases should not particularly challenge another hawkish repricing of Fed expectations.”

“A key risk would only come in the form of particularly dovish FOMC minutes, although recent comments by FOMC members are pointing in the opposite direction.” 

“We still think that the Fed has already hit the peak, and our US economist expects as much as 100 bps of cuts in late 2023 as the economic outlook deteriorates. With this in mind, we expect any Dollar resilience to prove unsustainable beyond the short term.”