FXStreet (Edinburgh) – After clinching fresh multi-week tops around 97.20, the US Dollar Index has surrendered some gains and is now back to the 97.00 neighbourhood.
DXY focus on EU Summit
The re-emergence of the risk aversion in response to increasing jitters around Greece has been weighing on investors sentiment throughout the session, all against the backdrop of the critical EU Leaders Summit due this evening in Brussels.
The index is trading in 5-week peaks around the 97.00 handle, backed mainly by the uncertainty around Greece and positive results in the US economy, where a September lift-off still remains on the table.
Data wise, the US trade deficit rose to $41.87 billion during June vs. $40.7 billion posted during the previous month.
DXY relevant levels
As of writing the index is advancing 0.74% at 97.00 with the next hurdle at 97.34 (high Jun.5) ahead of 97.76 (high Jun.1) and finally 98.00 (high Jun.2). On the flip side, a breakdown of 96.59 (low Jul.6) would target 96.04 (low Jul.3) en route to 95.64 (low Jul.1).
(Market News Provided by FXstreet)