US Dollar Index: Cautious rebound capped near 100 – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret observe that the US Dollar (USD) is modestly stronger as markets start the week cautiously, with equities defensive and Treasuries firmer.
Scotiabank strategists Shaun Osborne and Eric Theoret have noted a cautious rebound for the US Dollar Index (DXY) near 100, as markets start the week with equities in defensive mode and Treasuries firming. The potential for moderate gains in the USD is high due to investors paring back their positioning, but bearish technical trends suggest any rebound may be capped near the 100 mark.
Event risk from sanctions on Iran, PCE Price Index data, and Fed Chair Jerome Powell's Jackson Hole speech could drive USD gains, but technical trends indicate the USD's fundamental trajectory may remain negative.
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