The DXY Dollar Index is somewhat weak at the 102.00 low zone. As reported by ING economists, DXY Index could retest yesterday’s lows at 101.55 by the end of the week.
The dollar on shaky ground
“One could argue that the dollar is facing a combination of negative factors at a rather inopportune time and that the sustainability of the upbeat growth recovery in Europe and China could be threatened by renewed volatility in commodity prices and high infection numbers, respectively. We see value in this argument, and a linear depreciation of the dollar in the first quarter is far from assured. But the Global and US-specific dynamics continue to suggest a bearish bias in the dollar in the near term.”
“DXY Index could retest yesterday’s lows at 101.55 by the end of the week.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.