US Dollar leaps to daily highs above 96.00

A bout of buying interest around the buck has lifted the US Dollar Index to fresh session peaks in the 96.00 neighbourhood today.

US Dollar at 2-week tops

The index is extending its weekly upside beyond the critical barrier at 96.00 the figure on Tuesday, as market participants keep adjusting to the recent positive results from the ISM Manufacturing and Consumer Sentiment released last Friday.

Adding to USD bids, concerns over the potential consequences of the UK leaving the European Union have remerged after PM T.May said earlier this morning that the timing for triggering Article 50 is important in order to reassure businesses, while she advocated for a continuation of a special relationship between the UK and US. Cable remains under heavy pressure so far this morning in Europe, rapidly breaking below the 1.2800 handle and posting lows last traded in 1985 around 1.2770.

Collaborating with the upside momentum around USD, the selling pressure remains unabated around the Japanese safe have, lifting USD/JPY to fresh tops in the mid-102.00s.

US Dollar relevant levels

The index is gaining 0.50% at 96.17 and a break above 96.31 (spike post-BoJ Sep.21) would open the door to 96.50 (high Aug.5) and finally 97.62 (high Jul.25). On the flip side, the immediate support lines up at 94.97 (support line off 2016 low) ahead of 94.44 (low Sep.8) and finally 94.05 (low Aug.18).