- The index creeps higher to the area close to the 90.00 milestone.
- US 10-year yields climb above 2.93%, flirting with 8-week tops.
- Chicago Fed C.Evans (non voter, centrist) due to speak later.
Tracked by the US Dollar Index (DXY), the greenback has approached the psychological 90.00 barrier, although a breakout still remains elusive.
US Dollar looks to risk trends
The index is extending the up move for the fourth consecutive session at the end of the week, gaining further traction after bottoming out in the 89.25/20 band on Tuesday.
The moderate rebound in the buck has been in tandem with higher yields in the US money markets, where the 2-year and 5-year references are trading in multi-year peaks above 2.43% and around 2.75%, respectively.
The broad-based bias continues to favour the risk-associated space today, amidst a noticeable absence of fresh developments on the geopolitical front and regarding the trade conflict between China and the US.
Event-wise today, Chicago Fed C.Evans (non voter, centrist) is due to speak later in the NA session in an otherwise empty US calendar.
US Dollar relevant levels
As of writing the index is up 0.05% at 89.94 and a break above 90.44 (high Mar.20) would open the door to 90.60 (high Apr.6) and finally 90.89 (38.2% Fibo of 95.15-88.25). On the other hand, the next down barrier lines up at 89.69 (10-day sma) followed by 89.23 (low Apr.17) and then 88.94 (low Mar.27).
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