FXStreet (Edinburgh) – The US Dollar Index, which gauges the greenback vs. its main competitors, has surrendered recent gains and is now hovering over 96.40, or session lows.
DXY weaker pre-FOMC
After hitting multi-week peaks above the 97.00 handle on Tuesday, the US dollar is now giving away part of yesterday’s spike and testing lows near the 96.40 area. The risk sentiment has woken up today, bolstered by some sort of optimism on a potential EU-Greece deal in the context of the next EU Summit on Sunday.
Data wise across the pond, the FOMC minutes will grab all the attention seconded by the speech by FOMC’s Williams and the Consumer Credit Change ($18.5 billion exp.)
DXY relevant levels
As of writing the index is losing 0.38% at 96.38 with the next support at 96.04 (low Jul.3) ahead of 95.48 (low Jul.1) and finally 94.30 (low Jun.23). On the upside, the next up barrier 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)