DXY could retest 98-99 into autumn - Westpac

Research Team at Westpac, suggests that USD is not an appetising currency, the Fed seems highly unlikely to deliver any hawkish surprises anytime soon and may well be on hold into 2017.

Key Quotes

“But, post Brexit aftershocks have barely started - panic withdrawals from UK property funds could be just the start – while the real economy hit is still gathering momentum. BoE (Aug 4) and the ECB (21 July) likely deliver easier policy too. In short a reluctant USD bull, the DXY could retest 98-99 into Autumn.

Technical: Signals very mixed and DXY remains around the middle of a multi-month contracting range.”