US Dollar gravitating around 99.50 ahead of House vote
|The US Dollar Index – which gauges the greenback vs. its main rivals – stays within a tight range around 99.50 on Thursday ahead of the key House vote.
US Dollar focus on Trump
The index is extending its near term consolidative theme amidst some caution ahead of the House voting on the American Health Care Act.
The vote has gained extra importance recently, as investors consider that in case the bill is not passed, that could delay further the implementation of the fiscal plans ‘promised’ by President Trump.
In the meantime, yields in the US money markets have managed to revert the drop to daily lows albeit they’re still meandering the lower bound of the recent range. The 10-year benchmark bounced off lows around 2.37% seen yesterday, although it still trades far away from levels seen pre-FOMC meeting near 2.63%.
US Dollar relevant levels
The index is gaining 0.04% at 99.52 facing the next up barrier at 99.85 (78.6% Fibo of the February-March up move) ahead of 100.27 (high Mar.20) and then 100.84 (55-day sma). On the slip side, a breakdown of 99.46 (low Mar.21) would aim for 99.19 (2017 low Feb.2) and finally 96.94 (low Nov.4 2016).
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.