US Dollar Index: Dollar surges across the board on US trade tariffs
|US Dollar Index
The dollar index opened with gap-higher on Monday (up 1.1%), lifted by threats of trade war after US President Donald Trump imposed tariffs on imports from Canada, Mexico and China.
Two top US trading partners, Canada and Mexico immediately announced the counter measures, while China will look for assistance from World Trade Organization.
Although the dollar eased from the session peak, near-term structure remains firm, as daily studies improved (14-momentum emerged from negative territory, RSI rose above neutral 50 zone and MA’s turned into full bullish setup.
Markets see strong potential for further dollar’s rise in the environment of growing uncertainty over the negative consequences of trade war that fuels risk aversion.
Res: 109.73; 110.00; 110.50; 111.06.
Sup: 108.61; 108.40; 107.89; 107.59.
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