FXStreet (Edinburgh) – The US Dollar Index, which tracks the greenback vs. its major rivals, is taking a serious hit today, down more than 1% to the mid-95.00.
DXY in multi-day lows
The Greece-induced euphoria in the global markets is pushing the riskier assets to fresh highs vs. the dollar today, which is posting multi-session troughs in the 95.50 area.
The likeliness that Greece and the EU institutions could struck a deal in the next hours has been taking a toll on USD since the opening bell in Asia after Greek authorities finally submitted a more comprehensive set of proposals to be assessed by its EU peers.
Nothing relevant data wise in the US economy, with only the speech by Chairwoman J.Yellen due in the European evening.
DXY relevant levels
As of writing the index is retreating 1.10% at 95.54 and a break below 95.08 (low Jun.26) followed by 94.86 (low Jun.30) and finally 94.72 (low Jun.29). On the flip side, the initial hurdle 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)