- USD Index is poised to remain soft and could retest the recent lows near 101 in the short run – Scotiabank
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16 junio 2023
USD Index is poised to remain soft and could retest the recent lows near 101 in the short run – Scotiabank
This week’s key central bank meetings are out of the way. So where now for the USD? Economists at Scotiabank analyze the greenback outlook.
USD likely to retain a soft bias
USD is poised to remain soft and could retest the recent lows in the DXY index near 101 in the short run but a decisive move through the recent range lows may have to wait until we get a stronger sense of how far central banks will push on with policy tightening.
Broadly though, the short- and medium-term backdrop appears more negative for the USD which should curb the USD’s ability to recover and drive better selling interest on moderate rebounds.
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