USD could reach 97.20 – Westpac

The greenback, tracked by the US Dollar Index, could climb further and test the 97.20 area in the near term, according to strategists at Westpac Robert Rennie and Imre Speizer.

Key Quotes

“We have been running with the view that stronger US data should eventually manifest itself in a stronger US$”.

“The US$ might also draw some support from Fed commentary this week noting global and market volatility concerns but also emphasising a “gradual” tightening path. This week’s rebound in the DXY should extend to at least 97.20”.