US Dollar: Policy risks keep downside bias – ING
ING’s Chris Turner, Francesco Pesole and Frantisek Taborsky note the Dollar starts the week soft as markets await US policy signals from the White House.
ING analysts Chris Turner, Francesco Pesole, and Frantisek Taborsky highlight the Dollar's soft start to the week as investors await US policy cues from Washington. The focus is on sanctions imposed on Iran, escalating US-Canada trade tensions, potential fiscal consolidation, and upcoming releases such as US core PCE inflation for July and Kevin Warsh's speech at the Jackson Hole symposium.
The analysts suggest room for the Dollar to face more pressure and DXY to remain within a defined range. The article notes that US Treasury Secretary Scott Bessent is expected to announce new sanctions on Iran, which could reignite trade tensions with China. Moreover, Warsh's speech at the Jackson Hole symposium is crucial, as he will need to bolster the Fed's inflation-fighting stance after a recent press conference caused a sell-off in long-term Treasuries.
The DXY dollar index may see further consolidation around the 98.50-99.00 range today, with downside risks prevailing.
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