The Dollar should remain steady – ING

The Dollar and US yields were knocked off their highs on Wednesday. Economists at ING analyze Greenback’s outlook.

DXY could trade slightly offered in a 103.15 to 103.50 range

Look out for the weekly initial jobless claims data today, where any tick higher to the 250,000 area could slightly weigh on US yields and the Dollar. We would not expect big moves, however, before Federal Reserve Chair Jerome Powell’s speech on Friday at the Fed’s Jackson Hole symposium.

Given that the risk environment is a little better bid today – with Nvidia’s results keeping the tech boom alive – DXY could trade slightly offered in a 103.15 to 103.50 range.