US Dollar Index: Break of 104 opens the door to a run at 20-year highs near 107 – Westpac – FXStreet
In the view of economists at Westpac, the US Dollar Index (DXY) is likely to stay well supported in the coming days and weeks. A clean break of 104 is opening the door to a run at 20-year highs near 107.
“DXY uptrend in very good shape, the Fed on a resolutely hawkish path, while events in the Eurozone and China weigh on global growth expectations.”
“A break of 104 opens the door to a run at 20-year highs near 107.”
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Gold bottomed at $1,799 on Friday, the lowest level since February. A recovery followed later that found resistance quickly at $1,820. The yellow metal remains under pressure.
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May 13, 2022 at 12:45PM