FXStreet (Edinburgh) – The US Dollar Index, which tracks the greenback vs. its main competitors, has regained the 94.00 handle and navigates session tops near 94.30.
DXY bolstered by Greek jitters
The index seems recovered after the FOMC-induced sharp sell off sent the dollar to multi-week troughs near 93.30 on Wednesday. Increasing jitters on the Greek front following the unsuccessful Eurogroup meeting on Thursday along with rumours of a default or even a ‘Grexit’ scenario are propping up today’s upside in the dollar and keep the sentiment towards the riskier assets depressed.
There are no data releases in the US economy today, with the housing sector back to the fore on Monday via the publication of Existing Home Sales.
DXY levels to watch
The index is now advancing 0.33% at 94.33 with the next resistance at 94.42 (high Jun.19) followed by 95.68 (high Jun.12) and then 96.91 (high Jun.5). On the other hand, a break below 93.90 (low Jun.19) would open the door to 93.29 (low Jun.17) and finally 93.17 (low May 17).
(Market News Provided by FXstreet)