FXStreet (Edinburgh) – The USD Index, which tracks the greenback vs. its main competitors, has returned to sub-98.00 levels, or session lows.
USD Index capped by 98.15
The index remains unable to sustain a break above the 98.00 mark so far, in spite of the recent auspicious comments by Fed officials, Yellen included, hinting at the likeliness of a Fed’s lift-off in Q3/Q4.
Volatility is expected to ebb and flow amidst an empty calendar in the US economy today, with the next relevant data being tomorrow’s Services PMI by Markit and Existing Home Sales.
USD Index relevant levels
As of writing the index is down 0.14% at 97.89 with the immediate support at 95.08 (low Jun.26) ahead of 94.86 (low Jun.30) and finally 94.72 (low Jun.29). On the flip side, a surpass of 98.46 (high Apr.21) would open the door to 99.36 (high Apr.15) and then 99.70 (high Apr.14).
(Market News Provided by FXstreet)