US Dollar Index: Little reason to expect much of a dollar sell-off – ING

US Dollar Index (DXY) seesaws around 104.50. Economists at ING believe that a dollar sell-off is unlikely to occur.

US rates and the dollar could nudge higher on surprising PCE deflator reading

“For today, look out for those remarks from central bankers and also the US May reading for the headline and core PCE deflator readings. High month-on-month readings are expected for headline and core (0.7% and 0.4%) and any upside surprise could see US rates and the dollar nudge higher.”

“DXY is consolidating above 104.00 and barring any large equity rally today on quarter or half year-end re-balancing, there seems little reason to expect much of a dollar sell-off.”