US Dollar Index: 111.30 looks to be the next resistance area – ING

The US Dollar Index has touched its highest level in two decades above 110.00. Economists at ING expect DXY to target the 111.30 mark.

USD to remain bid

“Offering 2.3% overnight deposit rates and backed by near energy independence and a relatively strong US economy, it should not be a surprise to see the dollar remaining bid.”

“DXY is now comfortably through 110 and 111.30 looks to be the next resistance area. Don’t fight the trend here.”