The Dollar continues its incessant upward climb. ING economists analyze the outlook for the dollar.
It looks like the DXY Dollar Index may reach 107.00/107.20
In theory, a US Government shutdown should be slightly negative for the Dollar, since it affects activity and not the solvency of the US. But it will take a lot for the Dollar to change its trend, and could continue to rise until mid-October, when American companies in California have to pay their taxes.
It looks like the DXY Dollar Index may reach 107.00/107.20 and perhaps the biggest threat to the Dollar is the Bank of Japan selling between $20 and $30 billion near the 150.00 level in the USD/JPY, as that Japanese officials monitor the currency market “with a strong sense of urgency.”
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.
