USD Outlook – FXWW Chatroom

USD was unloved even as global decline in equities, commodities and 
emerging currencies worsened, falling against 6 G10s. The Dollar Index 
trended lower through all trading sessions before settling at 14-week low of 
93.33 as weakness across global markets firmed up the view that the Fed 
would have to refrain from policy move come Sept. 
· While continued unwinding of bets for Sept Fed rate hike point to 
further USD weakness, we suspect that it may be time for a technical 
rebound after 4 days of sharp declines. The Dollar Index has found firm 
support around 92.62 – 93.13 and we reckon that this would be the 
platform on which the index could bounce to circa 93.96 – 94.09. 

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