The greenback is prolonging its upside momentum during the first half of the week, now sending the US Dollar Index to the upper end of the range near 93.40.
US Dollar bid on USTs
The index regained buying interest following the positive performance in yields of the key US 10-year reference, moving to fresh 3-day tops above the 2.31% handle.
USD remains underpinned by Sunday’s comments by Chief J.Yellen, while the potential appointment of J.Taylor as the next Fed’s Chairman lent renewed oxygen to the index. According to market participants, Taylor has a more hawkish message and could surely be a source of potential upside for the buck.
In today’s US data space, industrial and manufacturing production figures are due, seconded by capacity utilization, the NAHB index, TIC flows and the speech by Dallas Fed R.Kaplan (voter, hawkish).
US Dollar relevant levels
As of writing the index is gaining 0.18% at 93.22 and a break above 94.03 (23.6% Fibo of the 2017 drop) would expose 94.27 (high Oct.6) and finally 95.90 (38.2% Fibo of the 2017 drop). On the downside, the immediate support lines up at 93.10 (21-day sma) seconded by 92.92 (55-day sma) and then 92.75 (low Oct.13).
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.