USD Index to stay on the back foot – ING

The US Dollar is having a difficult time finding demand with the US Dollar Index trading flat slightly above 102.00. Soft US consumer sentiment and softening inflation expectations should keep the Dollar bias bearish today, in the view of economists at ING.

Slip sliding away

“It is a quiet day for US data, and a soft University of Michigan consumer sentiment plus declining inflation expectations can keep the Dollar on the back foot.”

“With USD/JPY expected to stay under pressure into next Wednesday’s Bank of Japan meeting, the DXY can stay biased to the 102.00 area near term.”