ING analyst Chris Turner observed that the markets began the week with a calm demeanor, which slightly bolstered both equity prices and the US dollar. He noted, “Financial markets experienced a tranquil start to the week with a noticeable decline in inter-market volatility.” Turner elaborated, “A rise in stock prices could potentially benefit the dollar, given the recent positive correlation observed between these assets.”
Further, Turner suggested that there is potential for the DXY dollar index to climb to 100.00-100.25, but he cautioned that this level “might suffice for the current week.” The DXY index saw an uptick of 0.2%, reaching 99.6800.
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