FXStreet (Edinburgh) – The US Dollar Index, which gauges the greenback vs. its main rivals, is advancing to session tops on Wednesday, currently hovering over the 95.00 handle.
US Dollar firmer, in 2-week highs
The greenback is managing to revert three consecutive weeks with losses so far, while market participants now seem to have already priced in the likeliness of a Fed’s lift-off at some point during the first half of the next year in detriment of a rate hike in December.
In a week empty of relevant releases in the US economy, several speeches by Fed members have failed to shed further light on the potential timing of a rate hike by the Federal Reserve, leaving USD to free float along with the broader risk trends.
US Dollar significant levels
As of writing the US Dollar Index is up 0.11% at 95.01 and a breakout of 95.46 (50% Fibo of 98.40-92.52) would expose 95.64 (55-day sma) and then 96.09 (downtrend from 98.40-92.52 ). On the downside, the next support lines up at 94.19 (low Sep.18) followed by 93.91 (23.6% Fibo of 98.40-92.52) and finally 92.52 (low post-PBoC move Aug.24).
(Market News Provided by FXstreet)