8 Apr 2015
DXY off lows near 97.40
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its main competitors, is rebounding from session lows and is now looking to regain 97.40.
DXY focus on FOMC minutes
The US dollar is giving away recent gains, returning to the area of 97.40 after reaching the 98.00 neighbourhood on Tuesday. The greenback will remain in the limelight today however, in light of the FOMC minutes of the March 17-18 meeting, due in the European evening.
Other than the FOMC minutes, Mortgage Applications rose 0.4% in the week ended on April 2 and Fed’s Dudley will give a speech later.
DXY levels to consider
The index is now losing 0.39% at 97.45 with the next support at 97.25 (low Apr.8) ahead of 96.92 (low Apr.7) and finally 96.33 (low Apr.6). On the other hand, a break above 97.90 (high Apr.8) would open the door to 98.64 (high Apr.1) and then 99.11 (high Mar.20).
DXY focus on FOMC minutes
The US dollar is giving away recent gains, returning to the area of 97.40 after reaching the 98.00 neighbourhood on Tuesday. The greenback will remain in the limelight today however, in light of the FOMC minutes of the March 17-18 meeting, due in the European evening.
Other than the FOMC minutes, Mortgage Applications rose 0.4% in the week ended on April 2 and Fed’s Dudley will give a speech later.
DXY levels to consider
The index is now losing 0.39% at 97.45 with the next support at 97.25 (low Apr.8) ahead of 96.92 (low Apr.7) and finally 96.33 (low Apr.6). On the other hand, a break above 97.90 (high Apr.8) would open the door to 98.64 (high Apr.1) and then 99.11 (high Mar.20).