FXStreet (Edinburgh) – The US Dollar Index, which measures the greenback vs. its main competitors, is prolonging its offered tone on Thursday, currently around 93.80.
DXY hurt by FOMC, looks to US CPI
The greenback keeps suffering yesterday’s FOMC tone, where the Committee not only failed to ignite a renewed upside in the US dollar but also triggered a sharp sell off to today’s lows in the 93.60 area, or 4-week lows.
The index now looks to the next releases in the US economy in order to regain part of the ground lost, as CPI figures and Initial Claims are due.
DXY levels to watch
The index is now retreating 0.56% at 93.77 and a break below 93.62 (low Jun.18) would open the door to 93.27 (low May 18) and finally 93.17 (low May 17). On the upside, the initial hurdle lines up at 94.24 (high Jun.18) followed by 95.68 (high Jun.12) and then 96.91 (high Jun.5).
(Market News Provided by FXstreet)