USD appears in a position to at least hang on to recent gains this week – ING

US Dollar Index (DXY) clings to small daily gains. Economists at ING expect DXY to return to the 105 level soon.

Balance of risks appears skewed to the upside for the USD today

“The Dollar appears in a position to at least hang on to recent gains this week.”

“We could see a return to 105.00 in DXY soon.”

“Today’s price action may follow a wait-and-see approach given there are no data releases, but we have observed a tendency of markets to move closer to defensive long-Dollar positions into key risk events.”

“The balance of risks appears skewed to the upside for the Dollar today.”