Dollar may well stay soft against most currencies except the Yen – ING
|This month in the G10 space, the Dollar is only stronger against the Yen. Economists at ING analyze the USD outlook.
DXY can probably edge down to the 102.00 area
In the short term, the Dollar may well stay soft against most currencies except the Japanese Yen, with the Bank of Japan remaining resolutely dovish. Here, Yen-funded carry trades will remain popular.
For today's data, we have the University of Michigan's inflation expectations. This occasionally moves markets and any meaningful drop could nudge the Dollar lower. Equally, we have three Fed speakers, generally from the hawkish end of the spectrum.
We think the mood to put money to work probably dominates and barring any big upside surprise in US inflation expectations, DXY can probably edge down to the 102.00 area, if not below.
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