FXStreet (Edinburgh) – The US Dollar Index, which gauges the greenback vs. its main rivals, has surrendered initial gains and is now posting an even session so far.
DXY vigilant on Greece, US data
The dollar is meandering a narrow 30-pip range so far, with gains capped around 95.50 and support just below the 95.20 area. Rising uncertainty surrounding Greek debt talks has somewhat limited occasional pullbacks, although the buying interest seems to be taking a breather.
In the data space, today’s releases were supportive of the dollar in general, albeit they have failed to ignite a durable bull run. Recall that Initial Claims and Personal Spending came in above estimates, while inflation tracked by the Core PCE rose 1.2% on a year to May and Markit’s Services PMI came in on the softer side for the current month.
DXY relevant levels
As of writing the index is up 0.01% at 95.25 facing the next hurdle at 96.26 (high May 22) ahead of 96.54 (high Jun.8) and finally 96.91 (high Jun.5). On the flip side, a break below 94.30 (low Jun.23) would open the door to 93.81 (low Jun.22) and then 93.57 (low Jun.18).
(Market News Provided by FXstreet)