The US Dollar Index (DXY) is struggling to capitalise on the growth outperformance narrative as yields stabilise. A break below 91.30 would be an early warning that the medium-term bear trend is resuming ahead of schedule, economists at Westpac appraise. DXY upside potential beyond mid-2021 seems unlikely “DXY at a crossroads needs to survive a test of support in the lows-91s, likely in coming days, to restore confidence that there’s still fuel for the USD from the macro-outperformance narrative. More eye-catching upside surprises across a sweep of key data are likely in coming months”. “Any potential DXY upside that materialises in Q2 likely proves far more restrained than Q1. For one, the positioning fuel is no longer there, with more than half the aggregated short USD position built-in 2020 unwound in Q1.” “Medium DXY bear trend likely resumes in 2021H2, when the stimulus fuelled US rebound levels off, Europe reopens and the EC begins joint bond issuance.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY keeps the consolidation above 130.00 ahead of US data FX Street 2 years The US Dollar Index (DXY) is struggling to capitalise on the growth outperformance narrative as yields stabilise. A break below 91.30 would be an early warning that the medium-term bear trend is resuming ahead of schedule, economists at Westpac appraise. DXY upside potential beyond mid-2021 seems unlikely "DXY at a crossroads needs to survive a test of support in the lows-91s, likely in coming days, to restore confidence that there's still fuel for the USD from the macro-outperformance narrative. More eye-catching upside surprises across a sweep of key data are likely in coming months". "Any potential DXY… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
