FXStreet (Edinburgh) – The US Dollar Index, which measures the greenback vs. its main rivals, has bounced off session lows near 94.70 and is now looking to regain the 95.00 handle.
DXY weaker on Kuroda
The US dollar has seen its decline renewed after BoJ’s Governor H.Kuroda argued that it could be difficult to see the yen’s real effective exchange rate falling further. The Japanese currency strengthened towards the 122.70 area following the appreciations, prompting a sell off in the index to session lows in the 94.70 area.
Data wise, still nothing relevant in the US economy today, with now the BoJ and Greece driving the sentiment in the global markets. The attention will surely come back to the USD tomorrow, in light of the release of Retail Sales (1.1% exp.).
DXY levels to consider
The index is now retreating 0.32% at 94.86 and a breakdown of 94.70 (low Jun.10) would aim for 94.09 (low May 19) and then 93.27 (low May 18). On the other hand, the initial up barrier lines up at 95.45 (high Jun.9) followed by 96.91 (high Jun.5) and finally 97.68 (high Jun.1).
(Market News Provided by FXstreet)