US dollar index erases losses, back near 94.50

The US dollar shows mixed result on Tuesday. It managed to erase most of the losses during the American American session after equity prices failed to hold to gains. Greenback is marginally up against the Euro, the Swiss franc, flat versus the Aussie and modestly lower against the Kiwi and the Loonie. The best performer in the currency market is the pound.

Cable is testing daily highs above 1.3200 while EUR/USD is near the lows, still above 1.1300. USD/JPY has been moving sideways during the last hours, barely on top of 100.00.

The US Dollar index bounced to the upside on European hours and is now near 94.50. Earlier it bottomed at 94.15, the lowest level since Thursday. DXY appears to be consolidating around 94.80 and 94.00 ahead of Janet Yellen speech at Jackson Hole.

Stock in the US are in positive territory but far from the highs. The Dow Jones is up 0.14% at 18,555 while the Nasdaq gains 0.37%.

Regarding economic data from the US, home sales surprised to the upside by gaining 12.4% in July (versus -2.0% expected) while the Services PMI dropped from 52.9 to 52.1.