Another USD rally is unlikely today – ING

See: Dollar is likely to give back a good part of the gains if Powell disappoints – Commerzbank


Christine Lagarde’s speech may have a greater impact on the Euro and cause a DXY correction.

The Dollar has strengthened into the Jackson Hole Symposium and economists at ING think a hawkish tone by Fed Chair Powell is now largely priced in

Powell’s hawkishness looks largely in the price


The recent firmness in the Dollar probably factors in some of the markets’ expectations for a hawkish tone by Powell, so we don’t expect another USD rally today.