Dollar takes a breather ahead of mid-tier US data. Economists at ING analyze Greenabck’s outlook.

Patience is required

Today sees slightly more settled market conditions, and on the US calendar are housing starts and initial claims – probably not market movers. 

We are bearish on the Dollar this year, but patience is required. That can probably mean DXY does trade in a 103.00-104.00 range in the near term and potentially even into further event risks this month of the US quarterly refunding announcement (29 January) and the FOMC meeting (31 January).