FXStreet (Edinburgh) – The US Dollar Index, which tracks the greenback vs. its main competitors, keeps its buoyant march in the upper bound of the range near 97.70 on Thursday.
USD Index attention to Yellen
The bid tone around the dollar has gathered further traction today, pushing the index to almost 2-month peaks during the European morning. The hawkish tone by Chair J.Yellen at yesterday’s Semi-Annual Testimony has ignited a wave of buying interest in the dollar, which has extended into today’s session.
Mixed results from the US docket have also collaborated with the USD upside, as Initial Claims and the NAHB index both ticked higher from previous readings. On the not so bright note, the Manufacturing Survey gauged by the Philly Fed missed estimates for the month of July. Next of relevance will be the second Testimony of Yellen before the Senate.
USD Index Index relevant levels
As of writing the index is advancing 0.47% at 97.62 with the next hurdle at 97.78 (high May 27) followed by 98.46 (high Apr.21) and then 99.36 (high Apr.15). On the downside, a break below 95.08 (low Jun.26) would aim for 94.86 (low Jun.30) and finally 94.72 (low Jun.29).
(Market News Provided by FXstreet)