US Dollar Index to trade a 112-113 range – ING

The US dollar index (DXY) is hovering around the 113.00 level. Economists at ING expect the greenback to enjoy a calm session and trade a 112-113 range.

US data set looks unlikely to move the needle

“We do not see any major market drivers today (though USD/JPY breaking 150 could elicit quite a few headlines and probably some more FX intervention).”

“Certainly, some of the softer US housing data already seen this week has failed to dent expectations for the Fed tightening cycle. And today's US data set (existing home sales and jobless claims) looks unlikely to move the needle either.”

“DXY to trade a 112-113 range.”