The US Dollar Index (DXY) rebounds from the 104.00 area. Economists at Scotiabank analyze Greenback’s outlook.
DXY is showing some signs of short-term technical strength
The DXY is showing some signs of short-term technical strength, with the index basing around the 104.00 area on Wednesday; gains today may be setting the index up for a retest of the 104.55/104.60 peaks seen at the start of the week.
Markets may be giving the USD a bit of a lift ahead of Friday’s annual US CPI revisions – not usually a big issue for markets until last year’s surprising and quite significant upward revisions.
Source: https://www.fxstreet.com/news/usd-index-set-to-retest-the-10455-10460-peaks-seen-at-the-start-of-the-week-scotiabank-202402081404