ING Bank: The US dollar is expected to Fluctuation in a tight range this week

Francesco Pesole, a foreign exchange analyst at ING Bank, said in a report that the dollar may remain in a narrow range this week, and the dollar index is expected to be in the 102-103 range. He said recent better-than-expected U.S. economic data did not trigger a dollar rebound, and the consensus that “the dollar will fall later this year” seemed to have investors rushing to take profits when the dollar rebounded. Investors may need a clearer signal from the Fed that the data does not justify the market’s rate cut expectations. However, the safe-haven dollar could benefit from concerns such as tensions in the Middle East.