- The index is losing further ground and tests the mid-96.00s.
- Yields of the US 10-year note bounce of recent lows near 2.94%.
- Focus remains on US-China trade truce and broad risk trends.
The selling bias around the greenback remains unchanged so far this week and is now forcing the US Dollar Index (DXY) to drop to fresh lows in the mid-96.00s.
US Dollar Index weaker on risk-on trade
The index keeps suffering the improved tone in the risk-associated universe following the recently clinched truce between China and the US, prompting a sharp sell-off in the buck to the 96.50 region, or multi-day lows.
In addition, the decline in yields of the key US 10-year reference has reached the 2.94% region, levels last visited in mid-September, accompanying the leg lower in the Dollar.
US Dollar Index relevant levels
As of writing the index is losing 0.54% at 96.44 and a break below 96.32 (low Nov.22) would open the door to 96.04 (low Nov.20) and finally 95.68 (low Nov.7). On the flip side, the next hurdle emerges at 97.53 (high Nov.28) seconded by 97.69 (2018 high Nov.12) and then 97.87 (61.8% Fibo retracement of the 2017-2018 drop).
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.