The dollar has remained in high demand at the start of this week. I knowING economists expect the Dollar Index (DXY) to reach the 110 zone by the end of the week.
The dollar-supporting global macro picture seems unlikely to change
“Some of the price action in dollar crosses may end up being determined by any divergence in the US/Europe surveys, but the broad global macro picture that is currently supporting the dollar looks unlikely to change much. from the data at this time.”
“Aggressive expectations on Fed Chairman Jerome Powell’s speech in Jackson Hole on Friday should keep a fairly solid floor under the dollar for now, and likely procyclical currencies (Euros in particular) on the defensive as that the global risk environment remains turbulent.”
“We may see 110.00 on DXY at the end of the week, and even thinking of that level as the top of the dollar would be risky.”
Source: Fx Street
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