FXStreet (Edinburgh) – The greenback, gauged by the US Dollar Index, remains entrenched in the negative territory so far, hovering over session lows near 96.20.
DXY attention to the FOMC minutes
The offered tone continues intact around the USD today, allowing a rebound in the risk-associated space while markets get ready for the FOMC minutes due later. After hitting multi-week tops beyond the 97.00 mark on Tuesday, the index has faded part of those gains and deflated to the 96.25/20 band.
Optimism around Greece and the likeliness that both parties could finally clinch a deal over the weekend has opened the door to renewed hopes amongst traders, bolstering the risk-on trade as a consequence.
DXY relevant levels
As of writing the index is losing 0.61% at 96.27 with the next support at 96.04 (low Jul.3) ahead of 95.48 (low Jul.1) and finally 94.30 (low Jun.23). On the upside, the next up barrier aligns at 97.24 (high Jul.7) followed by 97.34 (high Jun.5) and then 97.76 (high Jun.1).
(Market News Provided by FXstreet)