The Dollar has entered a consolidative phase. Economists at ING analyze USD outlook.
Consolidative phase
For today, the focus will be on US housing starts and another batch of Fed speakers. Recent Fed speakers have barely moved the needle on expectations of the Fed policy cycle and instead, it has been the data doing the talking.
Perhaps the next big opportunity for Fed-speak will be the release of the minutes of the 1 November FOMC meeting – minutes released next Tuesday. DXY may trade well trade in a tight 104.00-104.85 range before then.
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