US Dollar under pressure near 100.30

The greenback, in terms of the US Dollar Index, is posting moderate losses early in Europe, currently hovering over the 100.30 region.

US Dollar weaker post-FOMC                                                   

The index briefly tested the 101.00 area during the release of the FOMC minutes on Wednesday, although the optimism has quickly fizzle out as the Committee failed to give further details on the pace and timing of the next rate hikes by the Federal Reserve.

Members have also addressed the adjustment of the Fed’s balance sheet, although again, no extra details have been provided.

USD has thus returned to the current 100.40/30 band while yields in the US money markets faded the earlier rebound and are back in the lower end of the weekly range.

In the US data space, Initial Claims are only due along with the speech by San Francisco Fed J.Williams (2018 voter, hawkish).

US Dollar relevant levels

The index is down 0.09% at 100.37 facing the initial support at 99.50 (low Mar.29) followed by 98.92 (low Mar.28) and finally 98.67 (low Mar.27). On the other hand, a break above 100.59 (55-day sma) would open the door to 100.99 (high Apr.5) and then 101.10 (100-day sma).