The US Dollar Index, which gauges the greenback vs. a trade weighed basket of its rivals, keeps giving away recent gains, now trading below the key 96.00 mark.
US Dollar lower on data miss
The greenback has lost upside momentum after US inflation figures tracked by the Core PCE have come in short of expectations during February, at an annualized 1.7% vs. 1.8% forecasted.
USD has been initially supported by further comments by St. Louis Fed’s James Bullard, who once again left the door open for a potential rate hike at the Fed meeting in April.
US Dollar relevant levels
The index is losing 0.1% at 95.96 and a breakdown of 95.54 (23.6% of 98.59-94.61) would target 94.61 (2016 low Mar.18) en route to 94.19 (monthly low Sep.18 2015). On the flip side, the next hurdle aligns at 96.58 (20-day sma) followed by 97.14 (200-day sma) and finally 97.42 (55-day sma).
(Market News Provided by FXstreet)