The dollar has continued to find some support on Wednesday. In the view of economists at ING, data resilience and higher yields should lay the basis for a re-strengthening of the dollar.
USD finds fresh support
“We expect the dollar to find some consolidation and possibly inch higher against most G10 peers for the rest of the week, with the weak bond environment offering a short-term supporting driver (the yen is set to remain the main victim here) and US data still supporting the Fed tightening story and offering a longer-term bullish USD argument.”
“DXY may advance to the 103.00 area in the run-up to the 15 June FOMC meeting.”