Dollar trend will be driven more by the data than central bank communication – ING DollarIndex EURUSD USDJPY USDMXN Banks
for the Dollar. However, the USD did soften marginally through Chair Powell’s press conference. Economists at ING analyze Greenback’s outlook.As elsewhere in the world it looks increasingly like the Dollar trend will be driven more by the data than central bank communication. Indeed, we may not hear much from the Fed before the Jackson Hole Fed symposium on 24-26 August.
Given quite a few unanswered questions it is no surprise that cross market volatility remains quite low and that investors remain enamored with the carry trade. This will keep the JPY on the back foot – unless the Bank of Japan surprises on Friday – and maintain the demand for the market’s favourite EM high yielders such as the MXN and the HUF.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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