USD Index: 103.30 could be at risk today if European PMIs surprise to the upside – ING

The Dollar Index has fallen below 104.00. The economists of ING analyze the prospects for the DXY.

DXY to trade in tight/slightly softer ranges barring a big jump in US weekly jobless claims.

For today, we see a slightly better investment environment driven by Nvidia's stellar earnings. We also note that Japan and Korea have high-end chip industries and suspect the Yen and Won will be much stronger this year.

Barring a big jump in US weekly jobless claims today, we expect the DXY to trade in tight/slightly softer ranges with the biggest boost coming today in Europe.

The DXY is currently above the support at 103.80 and If European PMIs surprise to the upside, 103.30 could be at risk today.

Source: Fx Street

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