The US Dollar Index closed September and Q3 off highs after profit-taking on Friday. Economists at Société Générale analyze DXY outlook. Dollar dips l
closed September and Q3 off highs after profit-taking on Friday. Economists at Société Générale analyze DXYA return above 106.80 potentially sets up the DXY for a return towards 108 and the highs of late November last year.Dollar dips look set to continue to attract buying interest as investors respond to the bear steepening of the 2s/10s Treasury curve. The spread moved through -50 bps in September. The March low of around -40 bps is key resistance.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD came under renewed bearish pressure and declined toward 1.0500 in the second half of the day on Monday. After the data from the US showed that the ISM Manufacturing PMI came in better than expected in September, the US Dollar extended its rally and weighed on the pair.GBP/USD turned south and retreated to a fresh daily low below 1.2150 in the American session.
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