US Dollar Index to correct back to the 107.00 area on a dip below 108.10/15 – ING

The dollar is slightly softer today. Economists at ING expect the US Dollar Index (DXY) to stage a correction on a break under the 108.10/15 support.

The hawkish Fed should keep the dollar supported 

“108.10/15 looks important intra-day support and should determine whether DXY needs a correction back to the 107.00 area.”

“We remain bullish on the dollar on the back of the Fed and the energy story, but heavy positioning is probably the biggest risk to the dollar right now.”