The US Dollar Index has touched its highest level in two decades above 110.00. Economists at ING expect DXY to target the 111.30 mark.

USD to remain bid

“Offering 2.3% overnight deposit rates and backed by near energy independence and a relatively strong US economy, it should not be a surprise to see the dollar remaining bid.”

“DXY is now comfortably through 110 and 111.30 looks to be the next resistance area. Don’t fight the trend here.”