US Dollar Index: The 101.00-101.50 area could represent the bottom of the correction – ING

The US Dollar Index stays on the back foot. Nonetheless, economists at ING expect DXY to find support in the 101.00/50 region.

Still feeling the long squeeze

“We think that the USD long-squeeze may add some extra pressure to the greenback in the coming days, but we see a higher probability this week that the dollar will find some stability or show signs of rebounding given the still supportive monetary and growth outlook for the US.”

“The 101.00-101.50 area could represent the bottom of the dollar correction.”