FXStreet (Edinburgh) – The US Dollar Index, which gauges the greenback against a basket of its major rivals, has left session lows and is now trying to sustain the breakout of the 94.00 mark.
DXY a tad better on Greek rumours
The greenback seems to have digested yesterday’s FOMC statement and Chairwoman Yellen’s speech, although the solid trends in the risk appetite keeps the index subdued.
Mixed results from the US data earlier left markets with a bitter aftertaste as key CPI figures came in below expectations, whereas Initial Claims, the Philly Fed manufacturing survey and Leading Indicators by CB all surpassed initial consensus.
However, further deterioration in the EU-Greece debt talks seems to be somehow supporting a recovery in the dollar, all amidst the ongoing Eurogroup meeting.
DXY levels to watch
The index is now retreating 0.27% at 94.04 and a break below 93.56 (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)