Back
22 May 2015
DXY buoyant around 96.00
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. a basket of its major rivals, keeps the upbeat tone in the upper bound of the range around the 96.00 handle.
DXY boosted by data, Yellen
Very auspicious results from the inflation figures in the US economy during the last month have catapulted the index to fresh 3-week tops and snapping at the same time a 5-week negative streak, sparked after the rejection from the psychological mark at 100.00 in mid-April.
The recent speech by Fed’s Head J.Yellen has confirmed the upbeat tone in the greenback, stressing that a rate hike is expected during this year, emphasizing at the same time that the economy should resume its growth pace after the transitory softness seen in the first quarter.
DXY relevant levels
The index is now advancing 0.94% at 96.14 and a breakout of 96.22 (high May 22) would open the door to 96.93 (high Apr.28) and then 97.27 (high Apr.27). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).
DXY boosted by data, Yellen
Very auspicious results from the inflation figures in the US economy during the last month have catapulted the index to fresh 3-week tops and snapping at the same time a 5-week negative streak, sparked after the rejection from the psychological mark at 100.00 in mid-April.
The recent speech by Fed’s Head J.Yellen has confirmed the upbeat tone in the greenback, stressing that a rate hike is expected during this year, emphasizing at the same time that the economy should resume its growth pace after the transitory softness seen in the first quarter.
DXY relevant levels
The index is now advancing 0.94% at 96.14 and a breakout of 96.22 (high May 22) would open the door to 96.93 (high Apr.28) and then 97.27 (high Apr.27). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).