DXY inter-markets: holding on to 99.50
|The US Dollar Index – which gauges the buck vs. its main rivals – stays on its way to close the third straight week with losses, although sellers could not push the index further south of the 99.50 region in a sustainable fashion.
The weekly performance of DXY has been reflected in the US money markets, where yields seem to be consolidating in the lower bound of the recent range. In fact, the 10-year reference keeps gravitating around the key 2.40% for the time being, with gains capped just above 2.43% and 2.37% holding on the downside.
Today’s House Republican vote on ‘Trumpcare’ should determine the near term direction for the buck, although it could also have an impact on the longer view, as investors believe a defeat today could delay further the implementation of fiscal plans announced by President Trump in past weeks.
All in all, the mid-99.00s keeps acting as a strong barrier for sellers. If cleared, the next support emerges at YTD low at 99.19 seen on February 2. On the upside, a positive outcome at today’s voting should open the door for a recovery in the greenback, with the immediate hurdle at the psychological 100.00 handle.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.