Li Ruofan: US Dollar Index Expected to Trade in Range for Now

Li Ruofan says the US dollar index is expected to trade in a range for now. Last week the Federal Reserve held rates steady, and Chair Warsh did not explicitly commit to a December rate hike, prompting markets to cut rate-hike bets; pressure on the tech sector drove safe-haven flows into US Treasuries, Treasury yields fell across the board, the interest-rate advantage weakened, and the US dollar index once again fell below the 102 mark.