USD rebound is slowing and might be reversing – Scotiabank

USD trades narrowly mixed in quiet trade. Economists at Scotiabank analyze the US Dollar Index (DXY) outlook.

Short-term top around 103.20/25 may drive losses back toward the mid-102 area in the near-term

Intraday trends so far today suggest the US Dollar rebound is slowing and might be reversing. 

The US Dollar Index (DXY) is trading net lower on the day and looks to have formed a short-term top around the 103.20/25 area which may drive losses back towards the mid-102 area in the near-term.