US Dollar Index (DXY) has held to a 98-99 range. Economists at Westpac believe that DXY could test the low 97s before attempting to hit the 100 level.

Firming risk climate could see DXY test lower levels

“DXY looks to be headed to 100+ in time, but for now a firming risk climate could see it test lower levels first.”

“China’s policymakers have vowed more economic support and safe-haven flows around Ukraine are reversing, all of which could see DXY testing the low 97s near-term.”