US Dollar toying with highs near 100.60


The buying interest around the greenback remains well and sound today, currently flirting with daily tops in the 100.60 area when measured by the US Dollar Index (DXY).

US Dollar challenges multi-day tops

The index is extending its upside momentum during the first half of the week, advancing well above the psychological 100.00 handle and already trading at shouting distance from yesterday’s 4-day tops in the boundaries of 100.70.

US yields, particularly in the shorter end of the curve keep accompanying the up move, although yields of the 10-year benchmark are trading in the negative ground for the second consecutive session so far.

Furthermore, USD seems to have derived extra support from recent comments by Fed speakers. In fact, Philly Fed P.Harker (voter, hawkish) reiterated that a rate hike in March stays ‘on the table’ adding that 3 rate hikes this year seems appropriate, adding to previous comments by Chicago Fed C.Evans (voter, dovish) in the wake of Friday’s Payrolls. In the same line, San Francisco Fed J.Williams (2018 voter, centrist) advocated for a sooner hike.

US Dollar relevant levels

The index is gaining 0.14% at 100.53 facing the next resistance at 100.69 (high Feb.7) followed by 101.02 (high Jan.30) and finally 101.37 (55-day sma). On the other hand, a breach of 99.91 (low Feb.7) would open the door to 99.72 (100-day sma) and then 99.19 (low Feb.2).

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.

Feed news

Stop losing your money! 
Learn to trade with us!

24/7 signals + Webinars    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD pressured below 1.1900 amid virus concerns, USD rebound

EUR/USD is trading below 1.19, driven by a risk-off mood that favors the safe-haven dollar. Fed Chair Powell said the US economy is at an "inflection point" but urged caution regarding the virus. Covid concerns are weighing on the euro. 

EUR/USD News

GBP/USD bounces above 1.37 amid UK reopening

GBP/USD has recaptured 1.37 as sterling catches a bid. The UK is reopening non-essential shops and other businesses as its vaccination campaign proves successful in keeping covid cases down. The dollar is marginally bid amid a risk-off mood.

GBP/USD News

Gold: $1,730 holds the key for XAU/USD bulls amid a modest USD strength

A modest pickup in the USD demand exerted pressure on gold for the second straight session. The risk-off mood, softer US bond yields extended some support and might help limit losses.

Gold News

XRP price rally and Ripple's legal victories could mean settlement with SEC impending

Ripple Labs and its executives scored another victory recently in its ongoing legal battle against the US Securities & Exchange Commission. Judge Sarah Netburn denied the SEC access to the personal banking information of Brad Garlinghouse and Chris Larsen.

Read more

S&P 500 Week Ahead: Bears hibernate as records keep getting smashed, earnings season awaits

Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire.

Read more

Forex MAJORS

Cryptocurrencies

Signatures