ING Suggests Sustained Dollar Sell-Off Is Unlikely at Present

Deep News
03/25

According to a report by Chris Turner of ING Groep NV, a prolonged sell-off of the U.S. dollar appears unlikely, as the prospect of a near-term resolution to the conflict involving Iran remains slim. Reports indicating that the U.S. has presented a 15-point plan to Iran to end hostilities, with mediators pushing for a meeting by Thursday, have led to lower energy prices and reduced safe-haven demand, contributing to dollar weakness. Turner noted that positioning for an early resolution to the crisis seems risky, as Iran is likely to leverage elevated energy prices as a bargaining chip in any negotiations. He added that it is premature to anticipate a significant decline in the dollar at this stage. The DXY dollar index fell 0.1% to 99.353, with ING Groep NV forecasting that the index will trade within a range of 99.00 to 100.000 this week.

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