USD Index: Downtrend persists, may not take much encouragement to resume below 102 – Scotiabank DollarIndex CPI UnitedStates Banks
USD trades broadly lower. The US Dollar Index could accelerate its decline on a break under the 102 mark, economists at Scotiabank report.“While the USD is better offered, investors may not want to lean too hard on the currency ahead of the US CPI report tomorrow. The report could bring mixed– clear progress in taming headline inflation but signs of stickier core inflation which may provide the USD some anchoring in the short run.
“Technically, the sell-off in the DXY looks to have paused after a week or so of modest gains. The downtrend persists from a broader point of view, however, and may not take much encouragement to resume .” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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