FXStreet reports that according to economists at Westpac, DXY is looking a little shaky into 94.5, but should retain the bulk of its recent gains.
“US Q3 GDP projections continue to slip, the latest median estimate falling to 4.7% annualised. But it hasn’t dented the USD and further material growth downgrades seem unlikely in any case.”
“Fed officials continue to signal a strong preference for moving ahead with a relatively brisk 6 to 9 month tapering of asset purchases, likely announced at their next meeting 4th November and starting before the year is out.”
“DXY looking a little shaky into 94.50 but should retain the bulk of its recent gains amid further signs the global rebound is losing steam and Fed QE tapering.”