Back
6 Aug 2015
US Dollar in highs above 98.00
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main competitors, has recovered the 98.00 handle and is trading in daily peaks at the same time.
US Dollar propped up by US data
The greenback has reverted the initial drop to lows near 97.70 backed by a resurgence of the buying interest and positive results from the US labour market, where Initial Claims have bettered estimates again (267K act. vs. 270K exp.).
A dovish tone from the BoE at today’s meeting showed the central bank’s minutes disappointing investors and triggering a sharp sell off in the sterling, collaborating with the dollar’s momentum as well.
US Dollar relevant levels
As of writing the index is gaining 0.16% at 98.11 and a break above 98.22 (high Aug.5) would aim for 98.46 (high Apr.21) and finally 98.73 (high Apr.16). On the downside, the immediate support lines up at 97.21 (low Aug.4) ahead of 96.29 (low Jul.27) and then 95.63 (low Jul.23).
US Dollar propped up by US data
The greenback has reverted the initial drop to lows near 97.70 backed by a resurgence of the buying interest and positive results from the US labour market, where Initial Claims have bettered estimates again (267K act. vs. 270K exp.).
A dovish tone from the BoE at today’s meeting showed the central bank’s minutes disappointing investors and triggering a sharp sell off in the sterling, collaborating with the dollar’s momentum as well.
US Dollar relevant levels
As of writing the index is gaining 0.16% at 98.11 and a break above 98.22 (high Aug.5) would aim for 98.46 (high Apr.21) and finally 98.73 (high Apr.16). On the downside, the immediate support lines up at 97.21 (low Aug.4) ahead of 96.29 (low Jul.27) and then 95.63 (low Jul.23).