© Reuters. Expectations of a strong decline in the US dollar index towards this level!
Arabictrader.com – In conjunction with the strong fluctuations of the US dollar index up and down during currency market trading this year in light of many factors affecting its movements, on top of which are monetary policy decisions and interest hikes, experts at ANZ Bank believe that the US dollar (DXY) may decline towards the 98 level points by the end of the year.
Experts at the New Zealand Australian Banking Group indicated that US growth is expected to slow down on the background of recent events, and this reinforces the view of dollar weakness this year, and also, the steeper yield curve tends to be associated with the weakness of the US dollar, especially since the US interest rate cut is currently being priced, and therefore , the US dollar dollar index may end this year at 98 points.
Earlier, economists at OCBC Bank predicted that the greenback would come under renewed downward pressure if concerns about the banking system recede. Continued global economic growth concerns and persistent concerns about banking pressures could temporarily benefit safe-haven agents such as gold and the US dollar.
And the Singaporean bank experts continued that if these global concerns dissipated, the US dollar is expected to remain under pressure with the recovery of risk appetite in the markets, and the US dollar index may face strong resistance at the levels of 103.40 points and the level of 104.20 points, and the dollar will find strong support near the level of 102.80 points and the level of 102 points.
