The US Dollar Index (DXY) climbed back above the 105.00 level at the end of last week. Economists at MUFG Bank see room for the USD rebound to run further in the near-term.

Fresh upward momentum for the US Dollar

“We still believe that the USD’s recent rebound has room to run further in the near-term.”

“After breaking above the 105.00 mark, the DXY is set to retest the year-to-date high at 105.63 and then the 200-Day Moving Average at just below 106.50.”