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16 Mar 2015
DXY grinding lower around 100.30
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback against a basket of its major rivals, is giving away part of recent gains, returning to the 100.30 region.
DXY attention to the FOMC
The greenback is partially retracing the recent upside to the boundaries of 100.80 posted last Friday - levels last since in March 2003 – ahead of the critical FOMC meeting on Wednesday.
The US dollar has been advancing almost uninterruptedly in the last weeks, bolstered by a solid US labour market and the prospects of a lift-off in interest rates in the June meeting.
DXY levels to consider
The index is now losing 0.39% at 100.32 and a break below 99.55 (low Mar.13) would target 99.07 (low Mar.12) en route to 99.03 (low Mar.11). On the upside, the initial barrier lines up at 100.78 (high Mar.13) followed by 101.00 (psychological level).
DXY attention to the FOMC
The greenback is partially retracing the recent upside to the boundaries of 100.80 posted last Friday - levels last since in March 2003 – ahead of the critical FOMC meeting on Wednesday.
The US dollar has been advancing almost uninterruptedly in the last weeks, bolstered by a solid US labour market and the prospects of a lift-off in interest rates in the June meeting.
DXY levels to consider
The index is now losing 0.39% at 100.32 and a break below 99.55 (low Mar.13) would target 99.07 (low Mar.12) en route to 99.03 (low Mar.11). On the upside, the initial barrier lines up at 100.78 (high Mar.13) followed by 101.00 (psychological level).