FXStreet (Edinburgh) – The greenback, in terms of the US Dollar Index, is giving away part of its earlier gains and deflating towards the mid-95.00s.
DXY up on Greek hopes, US yields
The solid performance of today’s US Treasuries continue to bolster the buying interest around the US dollar, helped at the same time by persistent hopes of a final agreement between Greece and its EU creditors. Market participants continue to see light at the end of the tunnel despite Greek PM A.Tsipras has recently rejected another proposal by the EU institutions, all ahead tomorrow’s decisive Eurogroup meeting.
In the data space, US final Consumer Sentiment tracked by the Reuters/Michigan index has surpassed consensus, coming in at 96.1 vs. 94.6 expected and previous.
DXY relevant levels
As of writing the index is up 0.40% at 95.57 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)