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Sep 12 - 06:55 PM

USD: We Doubt Much Momentum Will Build Behind USD Correction. - ING

By eFXdata  —  Sep 12 - 03:00 PM

ING Research sees a limited scope for further USD correction.

"The US data highlight of the week is tomorrow's release of August CPI. While lower gasoline prices should bring headline CPI lower, core inflation should still be rising," ING notes.

"And with the Fed expected to hike another 75bp next week and introduce new quarterly projections, we doubt much momentum will build behind a dollar correction. 108.50 may well be enough of a correction for DXY and we would be favouring a move back above 110 next week," ING adds. 

Source:
ING Research/Market Commentary

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