US Dollar eases but undertone remains firm. Renewed gains are likely, according to analysts at Scotiabank.

USD to steady or strengthen somewhat in the short run

“Losses have been limited and beyond these short-term swings, USD prospects do appear to be edging a little more positively.”

“There is a window opening for the USD to steady or strengthen somewhat in the short run – which would be in keeping with the DXY’s seasonal tendency to appreciate in Q1.”

“There is a fair bit more US data to get through. PPI is expected to reflect still significant MoM gains but some moderation in YoY price growth. Higher than expected results will lift the USD. Starts, permits and claims data may not have much impact.”