10 Mar 2015
DXY off highs, back to 98.50
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is extending the upbeat tone vs. its main rivals on Tuesday, hovering over the mid-98.00s at the moment.
DXY propped up by Fed
The strong buying interest remains intact around the US dollar, as market expectations seem to be placing the first rate hike by the Fed in June (from September). The recent strong Payrolls in the US economy gave further oxygen to those bets, paving the way for further upside in the USD.
Nothing of note in the US calendar today, with only the Business Optimism index gauged by NFIB improving a tad to 98.0 in February from 97.9 previous.
DXY levels to consider
The index is now advancing 0.88% at 98.48 with the next resistance at 98.59 (high Mar.10) ahead of 99.00 (psychological level). On the downside, a breakdown of 97.77 (low Mar.10) would target 97.31 (low Mar.9) en route to 96.32 (low Mar.6).
DXY propped up by Fed
The strong buying interest remains intact around the US dollar, as market expectations seem to be placing the first rate hike by the Fed in June (from September). The recent strong Payrolls in the US economy gave further oxygen to those bets, paving the way for further upside in the USD.
Nothing of note in the US calendar today, with only the Business Optimism index gauged by NFIB improving a tad to 98.0 in February from 97.9 previous.
DXY levels to consider
The index is now advancing 0.88% at 98.48 with the next resistance at 98.59 (high Mar.10) ahead of 99.00 (psychological level). On the downside, a breakdown of 97.77 (low Mar.10) would target 97.31 (low Mar.9) en route to 96.32 (low Mar.6).